“So overall we assess that there has been sufficiently strong progress on the debt restructuring front,” Julie Kozack, Director of the IMF Communications Department, said during a press briefing on Thursday (06).

Kozack confirmed that on June 12th, the IMF Executive Board will meet to discuss Sri Lanka’s second review and the Article IV Consultation.

“The next steps on the debt restructuring are indeed to conclude negotiations with external commercial creditors and to implement agreements in principle with the official creditors..”

More specifically, she said the authorities have been holding extensive discussions with external official creditors regarding an MOU with the official creditor committee and the final agreements with the Export Import Bank of China.