The International Monetary Fund (IMF) has reportedly agreed to issue an emergency loan to Sri Lanka but are yet to make a public statement.
The agreement comes as Sri Lanka is in the midst of its worst financial crisis in recent history.
The IMF team who have been in Colombo for a week said that they were extending their stay until tomorrow where they will hold a press conference.
In a statement, the IMF reportedly said:
"The IMF Mission in Colombo has been extended by one day because discussions are still ongoing with the authorities."
The island has sought $3 billion from the IMF. The IMF thus far has stressed the need for Sri Lanka to come to an agreement with its creditors.
Tokyo is reportedly organising a conference to support this effort however, both China and Japan, which are major creditors for Sri Lanka, have refused to comment on debt restructuring. Instead, China has offered Sri Lanka to refinance loans.
Britain’s former Chancellor has stressed that an agreement with Sri Lanka must be conditional and spoke against the “inappropriate influence from the military”.
Read more : Rishi Sunak speaks on curbing Sri Lanka's military and justice for 'pain of 2009'
Read more here.
