IMF, Sri Lankan President Wickremesinghe Begin Talks For Bailout Package
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The country owes USD 51 billion in foreign debt. (Representational)Colombo: President Ranil Wickremesinghe and a visiting IMF team on Wednesday analysed Sri Lanka's current economic crisis as the two sides began crucial talks to finalise a bailout package and secure a staff-level agreement for the cash-strapped country.The second such visit from the International Monetary Fund (IMF) in three months comes at a time when Sri Lanka is scrambling to chalk out a staff-level agreement with the Washington-based global lender for a USD 5 billion programme, which could be the antidote for the country's current economic travails.Senior Mission chief Peter Breuer, who is an expert in debt re-structuring, Sri Lanka mission chief Masahiro Nozaki, Resident Representative Tubagus Feridhanusetyaw...