Sri Lankan president calls for ‘immediate’ fresh talks with IMF over $2.9 billion bailout
File image of Sri Lanka President Anura Kumara Dissanayake.
Sri Lanka's new President Anura Kumara Dissanayake called for restarting talks with the IMF "immediately" over a $2.9 billion bailout that threw a lifeline to his bankrupt country but imposed painful austerity.
"We plan to begin negotiations with the International Monetary Fund immediately," Dissanayake said in atelevised address to the nation on Wednesday.
In his 10-minute address, Dissanayake said he also wanted to conclude a deal to restructure international sovereign bonds and secure more concessions for the cash-strapped nation.
"To advance our debt restructuring programme, we are negotiating with relevant creditors to expedite the process and secure necessary debt relief," he said.
Also Read:Sri Lanka's new prez dissolves parliament, calls for snap polls
His call to resume talks with the IMF came after the international lender of last resort said it was ready to discuss its bailout with the new administration.
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"We look forward to working together with President Dissanayake... towards building on the hard-won gains that have helped put Sri Lanka on a path to economic recovery," an IMF spokesperson in Washington said Monday.
"We will discuss the timing of the third review of the IMF-supported programme with the new administration as soon as practicable," the spokesperson said, referring to the periodic review of the bailout.
Watch:Sri Lanka: Newly-elected President Dissanayake Dissolves Parliament, Calls Snap Polls On Nov 14
Sri Lanka's 2022 economic crisis brought down the country's president at the time, but has proved an opportunity for leftist Dissanayake, who saw his popularity rise after pledging to change the island's "corrupt" political culture.
On Tuesday, Dissanayake dissolved the 225-member parliament in which his once-marginal party had just three seats and called fresh elections for November.
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