IMF staff team to arrive in Colombo today

The multilateral lender said in a statement yesterday that a staff team from the International Monetary Fund (IMF) will visit Sri Lanka today.

The delegation will visit Sri Lanka from May 11-23 as part of regular consultations ahead of the first review mission later this year, the IMF said in a statement. IMF Asia and Pacific Department Director Krishna Srinivasan will join the visit on 12 May. -15 and a press conference is scheduled to be held on Monday (15), the announcement further states.

Sri Lanka’s economy, which suffered its worst crisis last year characterized by debt defaults, is on the road to recovery, but the country has yet to reach a debt relief deal with its creditors. Sri Lanka completed a nearly US$3 billion IMF program in March, receiving the first instalment of US$330 million Soon.