{"id":93469,"date":"2022-06-11T08:19:39","date_gmt":"2022-06-11T08:19:39","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=93469"},"modified":"2022-06-11T08:19:39","modified_gmt":"2022-06-11T08:19:39","slug":"sri-lanka-progress-talks-imf-bailing-out-details-by-dr-harold-gunathilake","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/sri-lanka-progress-talks-imf-bailing-out-details-by-dr-harold-gunathilake\/","title":{"rendered":"Sri Lanka Progress talks IMF Bailing Out Details &#8211; By Dr Harold Gunathilake"},"content":{"rendered":"<h1 style=\"text-align: center;\"><span style=\"font-size: 24px; color: #008080;\"><strong>Sri Lanka Progress talks IMF Bailing Out Details &#8211; By Dr Harold Gunathilake<\/strong><\/span><\/h1>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-77916\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2021\/11\/Harold-Gunethilake.jpg\" alt=\"Harold-Gunethilake\" width=\"160\" height=\"160\" \/><\/p>\n<p style=\"text-align: center;\"><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/Gmtqk8u18bI\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\">Website:\u00a0<a style=\"color: #000000;\" href=\"http:\/\/www.Doctorharold.com\" target=\"_blank\" rel=\"noopener\">www.Doctorharold.com<\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Transcript:<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">Wickremesinghe requested that the staff-level delegation from financial institutions visit Colombo as soon as possible to finalise the staff-level agreement.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Sri Lankan Prime Minister Ranil Wickremesinghe has urged IMF chief Kristalina Georgieva to send a team to Colombo &#8220;as soon as possible&#8221; so that a staff-level agreement could be finalised as his cash-starved government is seeking to find USD 6 billion to keep the country afloat for the next six months.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">During his talks with the IMF Managing Director on Tuesday, Wickremesinghe &#8220;requested that the staff-level delegation from the IMF visit Sri Lanka as soon as possible so that the staff-level agreement could be finalised,&#8221; online portal news first. Lk reported on Wednesday, quoting a statement issued by the Prime Minister&#8217;s Media Division.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The statement said that Georgieva expressed her willingness to support Sri Lanka in these difficult times.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Sri Lankan Delegation Visits Washington, Seeks $4 Billion As Aid From IMF<\/strong><\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><strong>IMF team to arrive in SL on June 20<\/strong><\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">An IMF team will arrive in Sri Lanka on June 20 to begin discussions on the staff level agreement; political sources told Daily Mirror a short while ago.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">During their visit, the team will discuss with the President and Prime Minister, who is also the finance minister.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">Sources said that Prime Minister Wickremesifinalisel is looking to finalise the staff level agreement during the visit. (Jamila Husain)<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Officials from the International Monetary Fund (IMF) are scheduled to visit Colombo soon to meet in person and hold discussions to help defuse the country\u2019s economic crisis.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">IMF spokesman Gerry Rice said it was planned to do so in the coming weeks. He added that he was expected to engage in policy discussions on the program supported by the International Monetary Fund.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Gerry Rice also stressed that the International Monetary Fund is committed to assisting Sri Lanka in this challenging time in line with the policies of the International Monetary Fund.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">He said IMF is closely monitoring the current economic crisis, the debt crisis and the humanitarian impact of the situation in Sri Lanka.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">To tide over the turmoil, Sri Lanka will need about $3.3 billion for fuel imports, $900 million for food, $250 million for cooking gas and $600 million more for fertiliser this year, Prime Minister Ranil Wickremesinghe told parliament.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The central bank has estimated the economy will contract by 3.5 per cent in 2022, Wickremesinghe said but added that he was confident growth could return with a robust reform package, debt restructuring and international support. Sri Lanka making important progress- video talk by Gerry Rice That was the report given to the media by IMF spokesman Gerry Rice, IMF Staff Concludes Virtual Mission to Sri Lanka May 26, 2022<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF\u2019s Executive Board. This mission will not result in a Board discussion.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Washington, DC: An International Monetary Fund (IMF) team led by Mr. Peter Breuer and Mr. Masahiro Nozaki conducted a virtual mission with the Sri Lankan authorities during May 9-24 on an economic program that could be supported by an IMF lending arrangement. The IMF team met with Honorable Prime Minister Ranil Wickremesinghe at the concluding meeting, following technical discussions with the economic team led by Governor Nandalal Weerasinghe of the Central Bank of Sri Lanka and Secretary to the Treasury Mahinda Siriwardana. The team also met with representatives of the private sector, the financial sector, and development partners.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">At the conclusion of the mission, the IMF team issued the following statement:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">\u201cThe IMF team held technical discussions on a comprehensive reform package to restore macroeconomic stability and debt sustainability. The team made good progress in assessing the economic situation and in identifying policy priorities to be taken going forward. The discussions focused on restoring fiscal sustainability while protecting the vulnerable and poor; ensuring the credibility of the monetary policy and exchange rate regimes; preserving financial sector stability, and structural reforms to enhance growth and strengthen governance. We expect that these discussions will help the authorities formulate their reform program.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Julie Chung Ambassador in Sri Lanka<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The subject matter discussed was to learn more about the US-SL relationship and how our work with local partners supports the aspirations of the Sri Lankan people. Interview with Indeewari Amuwatte- Colombo-based Broadcaster for Ada Derana Hope this video talk about the dealings with IMF to seek their assistance to bail out the financial crisis in Sri Lanka, was useful.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Let\u2019s meet again for further talks. Stay safe and goodbye for now<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Disclaimer:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The information contained in this article is for general information purposes only, and whilst the author will endeavour to keep the information up to date and correct, eLanka makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the eLanka website or the information, products, services, or related graphics contained in this article for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In otherwords, eLanka In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website \/ article. Also please note that through this website \/ web page articles you are able to link to other websites which are not under the control of eLanka and therefore we have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sri Lanka Progress talks IMF Bailing Out Details &#8211; By Dr Harold Gunathilake Website:\u00a0www.Doctorharold.com Transcript: Wickremesinghe requested that the staff-level delegation from financial institutions visit Colombo as soon as possible to finalise the staff-level agreement. Sri Lankan Prime Minister Ranil Wickremesinghe has urged IMF chief Kristalina Georgieva to send a team to Colombo &#8220;as soon [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":93472,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[20,1103],"tags":[8927,2086,44959,627,44100,44958,44961,44309,44960,4743,687],"class_list":{"0":"post-93469","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-articles","8":"category-dr-harold-gunatillake","9":"tag-central-bank","10":"tag-colombo","11":"tag-gerry-rice","12":"tag-international-monetary-fund","13":"tag-julie-chung","14":"tag-kristalina-georgieva","15":"tag-mahinda-siriwardana","16":"tag-nandalal-weerasinghe","17":"tag-peter-breuer","18":"tag-ranil-wickremesinghe","19":"tag-sri-lanka","20":"post_format-post-format-aside"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sri Lanka Progress talks IMF Bailing Out Details - By Dr Harold Gunathilake - eLanka<\/title>\n<meta name=\"description\" content=\"Transcript:Wickremesinghe requested that the staff-level delegation from financial institutions visit Colombo as soon as possible to finalise\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sri Lanka Progress talks IMF Bailing Out Details - By Dr Harold Gunathilake\" \/>\n<meta property=\"og:description\" content=\"Transcript:Wickremesinghe requested that the staff-level delegation from financial institutions visit Colombo as soon as possible to finalise\" \/>\n<meta property=\"og:url\" content=\"https:\/\/websitedesigns.com.au\/elankanew\/sri-lanka-progress-talks-imf-bailing-out-details-by-dr-harold-gunathilake\/\" \/>\n<meta property=\"og:site_name\" content=\"eLanka\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/eLanka.com.au\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-11T08:19:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/06\/sri-lanka-progress-talks-bailing-out-details-e1654935514987.png\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"187\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"eLanka admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"eLanka admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/sri-lanka-progress-talks-imf-bailing-out-details-by-dr-harold-gunathilake\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/sri-lanka-progress-talks-imf-bailing-out-details-by-dr-harold-gunathilake\/\"},\"author\":{\"name\":\"eLanka admin\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/person\/f6e635b74ab35ef88a68a9973cacc5bd\"},\"headline\":\"Sri Lanka Progress talks IMF Bailing Out Details &#8211; 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