INSUBCONTINENT EXCLUSIVE:
preventing a creditor from blocking assistance to a country in dire need of financing and has shown commitment to meet loan conditions.An
IMF staff also continue to engage with the Sri Lankan authorities who are working on completing upfront policy measures, the spokesperson
said.
IMF PolicyThe IMF can use the policy on lending into official arrears if it deems prompt financial support is essential and sees
the country pursuing appropriate policies and making good-faith efforts to reach an agreement with creditors, according to an explanation on
development comes as World Bank President David Malpass said Thursday that long extensions of debt are among the options that G-20 nations
and others are considering to help ease the burden for poor countries.The IMF, World Bank and Group of 20 nations chair India separately
next week.Sri Lanka and Pakistan count on IMF loans to provide immediate relief by shoring up their foreign-currency reserves and unlocking
electricity tariffs and clearing a new monetary law for parliament approval
Bank.Debt negotiations have dragged since Sri Lanka defaulted in May, causing severe supply shortage, depleting its foreign-currency
reserves, sending inflation and borrowing costs soaring and pushing the economy into a recession.While the nation has repurposed some funds
