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

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

(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 IMFs 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)

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