IMF reps here today

Representatives of the International Monetary Fund (IMF) are set to meet with government officials today (2). Mass Media Minister Vijitha Herath noted that during the discussions, the primary focus would be on how to proceed with IMF-related activities following the appointment of the new President.

The Minister mentioned this at the press conference of the Cabinet decision notification held yesterday (1) at the Government Information Department.

Minister Herath clarified that this meeting would not cover in-depth or strategic matters regarding the IMF agreement.

The minister further explained that discussions on strategic issues would involve the Governor of the Central Bank, the Secretary of the Ministry of Finance, and senior economic advisors to the President are scheduled to take place later this month in New York.

Minister Herath elaborated:”We did not discuss the IMF agreement in the Cabinet meeting. There is a consensus that a review of the IMF agreement is necessary, but the discussions with the IMF representatives today will not delve into deep or strategic topics. Instead, the talks will focus on how to move forward with the IMF engagement under the new President. The more strategic discussions will take place later in New York, where issues related to the IMF agreement will be thoroughly examined.”

He also mentioned that the previous government had claimed that they had reached an agreement with ISB creditors regarding debt restructuring but they hadn’t fully finalised it. These final decisions are expected to emerge from discussions at the IMF headquarters.

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