{"id":180039,"date":"2022-04-19T15:48:43","date_gmt":"2022-04-19T14:48:43","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=180039"},"modified":"2022-04-19T15:48:43","modified_gmt":"2022-04-19T14:48:43","slug":"imf-to-consider-sri-lankas-request-for-financial-aid","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/04\/19\/imf-to-consider-sri-lankas-request-for-financial-aid\/","title":{"rendered":"IMF to consider Sri Lanka&#8217;s request for financial aid"},"content":{"rendered":"<p>Ministry of finance in Sri Lanka on Tuesday disclosed that\u00a0the International Monetary Fund would consider providing quick financial assistance to the debt-burdened country.<\/p>\n<p>A delegation headed by Sri Lanka\u2019s Finance Minister, Ali Sabry, kicked off formal talks with the IMF in Washington on Monday for a programme the government hoped would help top up its reserves.<\/p>\n<p>It also hoped it would attract financing to pay for essential imports of fuel, food, and <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/03\/17\/war-international-court-orders-russia-to-immediately-suspend-military-operations-in-ukraine\/\">medicines<\/a>.<\/p>\n<p>An aide to Sabry, Shamir Zavahir, said on Twitter that Sri Lanka asked for a loan under the rapid financial instrument window, meant for countries needing urgent balance-of-payment support.<\/p>\n<p>However, the global lender was initially not inclined to grant the request.<\/p>\n<p>\u201cThe IMF has subsequently informed Minister Sabry that India had also made representations on behalf of Sri Lanka for an RFI.<\/p>\n<p>\u201cIt had been communicated that IMF will consider the special request made despite it being outside of the standard circumstances for the issuance of an RFI,\u201d Sri Lanka\u2019s finance ministry said in a statement.<\/p>\n<p>Sri Lanka\u2019s sovereign dollar-denominated bonds came under pressure again on Tuesday, with longer-dated issues falling as much as 1.4 cents in the dollar to trade at deeply distressed levels of just over 40 cents, Tradeweb data showed.<\/p>\n<p>The country\u2019s devastating financial crisis came as the effects of COVID-19 exacerbated mismanaged government finances and as rising prices of fuel sapped foreign reserves.<\/p>\n<p>Fuel, power, food, and medicines had been running low for weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ministry of finance in Sri Lanka on Tuesday disclosed that\u00a0the International Monetary Fund would consider providing quick financial assistance to the debt-burdened country. A delegation headed by Sri Lanka\u2019s Finance Minister, Ali Sabry, kicked off formal talks with the IMF in Washington on Monday for a programme the government hoped would help top up its [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":180047,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[37],"tags":[35726,15407,35728,35727,33324],"class_list":["post-180039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-financial-aid","tag-imf","tag-medicines","tag-shamir-zavahir","tag-sri-lanka"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>IMF to consider Sri 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