The International Monetary Fund (IMF) said that it is currently evaluating the terms of the proposed debt restructuring program for Sri Lanka.
Julie Kozack, Director of the Communications Department at IMF said that an IMF team is evaluating the proposal to ensure they align with the established guidelines of the IMF-supporter program for Sri Lanka.
She said that the IMF is closely monitoring the recent developments regarding Sri Lanka’s debt discussions.
On the 3rd of July, Sri Lanka and the creditors Steering Committee reached agreement on the terms for a $12.5 billion bond restructuring, bringing the South Asian nation closer to completing its debt overhaul two years after it defaulted.
The Steering Committee comprised ten major bondholders representing 50% of the ISBs.
Kozack revealed that the IMF team is currently evaluating the terms of the proposed debt restructuring to ensure they align with the established guidelines of the program.
Once this assessment is finalized, the IMF will express its official stance on the matter.