IMF to work with Sri Lanka’s new president welcomes creditor agreement

The International Monetary Fund welcomed on Monday last week’s announcement of an agreement in principle between Sri Lanka and a group of its international bondholders to restructure $12.5 billion in bonds, the fund said, adding it looks forward to working with newly elected president Anura Kumara Dissanayake.

“We look forward to working together with President Dissanayake and his team towards building on the hard-won gains that have helped put Sri Lanka on a path to economic recovery,” a spokesperson for the fund said via email.

The fund said it will discuss the timing of its third review of the current program with Sri Lanka “as soon as practicable.”