IMF Chief Christine Lagarde will not make Sri Lanka visit this month

A visiting IMF mission is in Colombo to review progress of a $1.5 billion loan approved in the middle of last year.

By: Reuters
Colombo | March 5, 2017 08:38 AM IST

2 min read

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FILE - In this Oct. 8, 2016 file photo, International Monetary Fund (IMF) Managing Director Christine Lagarde speaks during a news conference in Washington. On Monday, Nov. 7, 2016, Lagarde called on governments and businesses to do more to promote the same economic opportunities for men and women and to fight discrimination that interferes with those goals. (AP Photo/Jose Luis Magana, File)

Christine Lagarde, the managing director of the International Monetary Fund (IMF), will not be visiting Sri Lanka this month as she had been tentatively scheduled to, the global lender said on Sunday. “Unfortunately, due to an unforeseen change in her schedule, she will not be able to visit the country at that time. She is looking into the possibility of visiting Sri Lanka in the near future,” IMF spokesman Gerry Rice said in a statement.

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A visiting IMF mission is in Colombo to review progress of a $1.5 billion loan approved in the middle of last year. Finance Minister Ravi Karunanayake told Reuters that Lagarde’s visit would have been a courtesy call while she was en route to another country in the region. Sri Lanka has been struggling with heavy debts and balance-of-payments pressure.

The government last week approved some tough reforms to make loss-making state firms more efficient and put them on a path towards autonomy, in line with IMF conditions for the loan.

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