India commits to help Sri Lanka on debt in prospective IMF program

Jan 23 (Reuters) – India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary Fund-supported program, the IMF said on Monday.

“Sri Lanka is engaged with other official bilateral creditors to obtain similar assurances,” an IMF spokesperson said in a statement.

“As soon as adequate assurances are obtained and remaining requirements are met, including by the Sri Lankan authorities, a Fund-supported program for Sri Lanka can be presented to the IMF’s Executive Board for approval that would unlock much needed financing.”

Reporting by Andrea Shalal and Ismail Shakil; writing by Costas Pitas; editing by Tim Ahmann

Our Standards: The Thomson Reuters Trust Principles.