Sri Lanka PM says talks with IMF difficult due to bankruptcy

By KRISHAN FRANCIS
Associated Press

COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister says the country’s talks with the International Monetary Fund on a bailout are proving complex and difficult since it is now a bankrupt nation. Prime Minister Ranil Wickremesinghe told Parliament that recent discussions with a visiting IMF mission were fruitful but not as straightforward as in the past. He made the remarks while explaining a roadmap for an economic recovery to lawmakers. Wickremesinghe said earlier that a preliminary agreement was reached and submitted to the lending agency’s board for approval. But due to its default on its debts, Sri Lanka needs to submit a separate debt sustainability plan.