IMF holds talks with Sri Lanka on debt restructuring
A team from the International Monetary Fund (IMF) will meet Sri Lanka's president on Wednesday for talks to finalise a bailout package, including restructuring debt of about $29 billion, amid the nation's worst financial crisis in more than seven decades.
The second such IMF visit in three months comes as the Indian Ocean island scrambles to lock down a staff-level pact with the global lender for a possible $3 billion programme to pave its way out of the crisis.
"The IMF team will meet with the president and a finance ministry delegation later today," an official at the presidential secretariat told Reuters, declining to be identified as he was not authorised to speak to the media.
The team will also hold talks with the central bank governor and other officials, including representatives of Sri Lanka's financial and legal advisers Lazard's and Clifford Chance.
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