New Sri Lanka Leader Meets IMF, Completes Deal Consultation
- President says committed to $3 billion IMF program objectives
- Dollar bonds jump as new government advance debt rework deal
Sri Lanka’s new president held his first meetings with officials from the International Monetary Fund since taking office and initiated steps to move forward with the nation’s debt restructuring, while getting confirmation that terms agreed with the nation’s bondholders are comparable with an official creditor deal.
President Anura Kumara Dissanayake, the leftist leader who swept the South Asian nation’s elections two weeks ago, said he remains committed to the overall objectives of the IMF’s $3 billion loan program, but added they should be achieved “through alternative means that relieves the burden of the people,” according to an official statement on Thursday. He held meetings with the IMF team, led by Krishna Srinivasan, director of the Asia Pacific Department, for a second day on Friday.