Sri Lanka is making strides towards financial stabilization as it moves towards agreements with commercial creditors, including discussions with the International Monetary Fund (IMF). The IMF Communications Director, Julie Kozack, expressed confidence in reaching agreements with commercial creditors consistent with program parameters. Both domestic debt restructuring and state enterprise debt restructuring are nearing completion, with expectations set for finalized deals soon. Talks with International Sovereign Bond Holders and other creditors, such as the China Development Bank, are ongoing. These negotiations are crucial for completing the second review of the IMF program, with Sri Lanka aiming to conclude it by June-July before upcoming elections, as stated by President Ranil Wickremesighe.

IMF says “strong expectation” on Sri Lanka deal with private creditors | Economy Next