Paris Club Creditors provides financing assurances to support IMF bailout for Sri Lanka

Paris club

The Paris Club Creditors have provided the required financing assurances to support the International Monetary Fund’s (IMF) approval for the Extended Fund Facility for Sri Lanka.

The Paris Club members have expressed their commitment to negotiate a debt restructuring with Sri Lanka in accordance with the comparability of treatment principle and with the goal of restoring debt sustainability, the President’s Media Division (PMD) said today (February 07).

Saudi Arabia and India also expressed their support and commitment to providing financing assurances, it said.

The Paris Club members urged other official bilateral creditors, including China, to do the same in line with the IMF program parameters, the PMD said.

The assurances are crucial to finalise the $2.9 billion bailout from the IMF.