IMF working with multilateral lenders on financing programmes for Sri Lanka

The International Monetary Fund is working with other multilateral lenders including the World Bank, and the Asian Development Bank (ADB) on financing programmes for Sri Lanka, the IMF’s Deputy Director for Asia Pacific says.

According to Anne-Marie Gulde-Wolf, policies under other multilateral lenders in their areas of expertise will be important to resolve Sri Lanka’s long-term growth problems.

Meanwhile, the Managing Director of the International Monetary Fund (IMF) has stated that the global financial agency is pressing for a more debt resolution mechanism.

Delivering the opening remarks at the press conference for the 2022 Annual Meetings of the IMF and the World Bank Group (WBG), Kristalina Georgieva said, “We want the G20 Common Framework to become more predictable, with clear guidelines and equality of treatment for all creditors, public and private.”

She also remarked that the IMF is also looking for ways to expand that kind of donor coordination to middle-income countries, such as Sri Lanka.

“There is a lot to do this week. We must act urgently, and act together to make a difference in the lives of hundreds of millions of people,” Georgieva said further.