Sri Lanka remains confident that it will receive favorable responses from all creditors, according to State Minister for Finance Shehan Semasinghe.
The nation is eagerly awaiting official creditor feedback from both the Paris Club and India, crucial for the completion of the International Monetary Fund's (IMF) first review of its program.
Semasinghe expressed optimism, stating, "We are confident that all creditors will look at Sri Lanka positively. We are very strongly committed to the IMF program."
Notably, China has already submitted a debt restructuring proposal, primarily from its Exim Bank, addressing a significant portion of Sri Lanka's debt. The country is actively engaged in discussions with private creditors, even though the IMF has not deemed it critical for the ongoing review.
To move forward with the review process, Senior Mission Chief Peter Breuer outlined the necessary conditions, stating that the staff report can be presented to the IMF's executive board once all prior actions have been implemented. This includes confirming progress with debt restructuring to instill confidence that the restructuring will be concluded in a timely manner and in alignment with the program's debt targets.
