The International Monetary Fund stated on Thursday that it’s highly likely Sri Lanka will strike a deal with its commercial creditors by the time the IMF completes its second review.
Sri Lanka is currently in discussions with bondholders to rearrange approximately $12 billion in debt, a crucial move in its efforts to recover from a severe financial crisis.
IMF spokesperson Julie Kozack, during a press briefing, expressed confidence, saying, “We strongly anticipate agreements with commercial creditors that align with program requirements will be finalized by the end of the second review.”
While the IMF reached a staff-level agreement with Sri Lanka regarding the second review of a four-year bailout program at the end of last month, final approval from the IMF’s board is still pending.