Sri Lanka has requested immediate financial assistance from the International Monetary Fund (IMF), which the global lender may consider after some hesitation, according to an assistant to the country’s finance minister.
Sri Lanka’s Finance Minister Ali Sabry led a group to Washington on Monday to begin formal talks with the IMF on a program that the government believes will assist top up its reserves and attract bridge finance to pay for crucial imports of petroleum, food, and medicines.
“The (foreign minister) requested a Rapid Financing Instrument (RFI) to address current supply chain concerns, but the IMF first thought it didn’t fulfill their requirements,” Sabry’s adviser Shamir Zavahir tweeted.
Sabry told Reuters earlier this month that Sri Lanka is seeking $3 billion in the coming months from a variety of sources, including the IMF, the World Bank, and India, in order to avert the crisis.
