Sri Lanka to start talks with IMF on debt restructuring

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(Reuters) – Sri Lanka to start talks with the International Monetary Fund (IMF), including assistance with debt restructuring and managing its foreign exchange shortage.

Finance Minister Basil Rajapaksa to travel to Washington DC to present the proposal.

Sri Lanka will begin talks with the International Monetary Fund (IMF) next month on a plan to help the crisis-hit country, including assistance with debt restructuring and managing its foreign exchange shortage, three sources said on Friday.

Sri Lanka is facing its worst financial crisis in years. With foreign exchange reserves standing at a paltry $2.31 billion, the country is struggling to pay for critical imports including fuel, food and medicines. read more

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