The International Monetary Fund said it will discuss the timing of the next review of the Sri Lanka program and looked forward to working with the new President Anura Kumara Dissanayake.

“We look forward to working together with President Dissanayake and his team towards building on the hard-won gains that have helped put Sri Lanka on a path to economic recovery since entering one of its worst economic crises in 2022.

We welcome the announcement of an agreement in principle between Sri Lanka and international bondholders’ representatives, subject to confirmation on comparability of treatment by Sri Lanka’s Official Creditors Committee. This represents significant progress in Sri Lanka’s debt restructuring process.

We will discuss the timing of the third & latest review of the country’s $3 billion bailout package of the IMF-supported program with the new administration as soon as practicable” an IMF spokesman said in a statement.

Meantime earlier Bloomberg reported Sri Lankan bonds slide as election result puts IMF loan at risk!