The next round of technical negotiations with Sri Lanka will take place from May 9 to May 23, according to Masahiro Nozaki, the IMF’s Sri Lanka mission leader.

In a statement issued on Friday, Nozaki stated that the IMF is committed to aiding Sri Lanka in accordance with its principles.

“Because Sri Lanka’s debt is considered unsustainable,” he stated, “approval of IMF financing, even through a Rapid Financing Instrument, would require appropriate indications that debt sustainability will be restored.”

Last month, the two parties convened their first round of talks at the IMF headquarters.

Sri Lanka is hoping for an IMF Rapid Finance Instrument (RFI) facility as well as a bigger Extended Fund Facility (EFF) to help it deal with its foreign currency shortages, which have triggered an economic crisis.

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