© Reuters. People queue from morning to buy petrol amid the country’s economic crisis, in Colombo, Sri Lanka, May 18, 2022. REUTERS/Dinuka Liyanawatte
(Reuters) – The IMF’s virtual mission to Sri Lanka is expected to conclude on May 24 on the IMF’s mission to crisis-ravaged South Asia, IMF spokesman Gerry Rice said on Thursday. Technical negotiation of the country’s potential loan program.
The IMF monitors Sri Lanka’s political and economic developments very closely, Rice told a virtual IMF briefing. The heavily indebted island nation is going through its worst economic crisis since independence in 1948, as shortages of essential goods spark and spark social unrest.
“As such, we remain committed to helping Sri Lanka comply with IMF policy and we will engage with stakeholders to support a timely resolution of the crisis facing there,” Rice said.