COLOMBO (News 1st) – The State Minisrer of Finance Shehan Semasinghe says that he hopes to reach an agreement with regard to the financial assurance by creditors, which is expected by the International Monetary Fund during the negotiations that will begin on 3rd November.The State Minister said that although Sri Lanka's bilateral creditors such as China, India and Japan have verbally agreed to assist the country in debt restructuring, however, the IMF needs proper financial assurance in time for the negotiations.The Minister said that they are attemtpting to obtain the approval of the IMF board as soon as possible.
The minister made these comments during an inquiry made by Newsfirst regarding the second phase of the official-level negotiations to be initiated with the International Monetary Fund.The minister stated that no moves will be made to bypass the Parliament in dealing with the International Monetary Fund.Minister Semasinghe added that no parties other than the Ministry of Finance and the Central Bank of Sri Lanka have been informed with regard to the staff level agreement with the IMF. .