IMF confirms India’s assurance to restructure Sri Lanka’s debt

International Monetary Fund has confirmed India’s assurance to restructure Sri Lanka’s debt. India continues to be the sole creditor to have backed Sri Lanka’s bid for an IMF bailout. Earlier, External Affairs minister Dr. S Jaishankar in his visit to Sri Lanka had announced India’s proactive step.

Sri Lanka has been pursuing similar assurances from other creditors to finalise the 2.9 billion dollars extended fund facility. Meanwhile, Sri Lanka has been making efforts to improve its economic policies by raising tariffs on utilities and increase revenue by raising taxes.