Sri Lanka will hold another round of discussions (third discussion) with its creditors on Thursday (17), State Minister of Finance Shehan Semasinghe told The Sunday Morning last week. According to the State Minister, the Government will have a better understanding of the creditors’ stance on debt restructuring following the discussions.
State Minister Semasinghe told The Sunday Morning that the creditors were currently exchanging data and discussing the proposals that Sri Lanka could give regarding a possible haircut for debt restructuring. The Government had held a discussion with the creditors earlier this month as well.
When asked, Semasinghe said that the creditors included India and China, two countries that hold a significant portion of Sri Lanka’s external debt, adding that it was the Government’s policy to treat all creditors equally and with transparency.
Commenting on the International Monetary Fund (IMF) Board agreement to the anticipated $ 2.9 billion Extended Fund Facility (EFF) that Sri Lanka plans to get approval for by the end of December, the State Minister said that securing financial assurances from the creditors was an important part of the process.
According to Deputy Treasury Secretary R.M.P. Rathnayake, such meetings are key to obtaining support from the creditors for the planned IMF EFF that Sri Lanka is desperate to secure, as the assurances are one of the many criteria that the IMF Board will study to grant approval for the assistance programme.
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