Sri Lanka President Meets IMF on Bailout

Sri Lanka's newly elected President Anura Kumara Dissanayake met with International Monetary Fund (IMF) representatives to discuss the ongoing $2.9 billion bailout and potential reforms. During the meeting, Dissanayake expressed a commitment to the IMF program while advocating for alternative measures to alleviate the financial burden on citizens, such as reducing taxes on lower-income groups. The IMF acknowledged Sri Lanka's reform progress but emphasized the importance of maintaining momentum amid upcoming parliamentary elections. The discussions also touched on the urgent need for restructuring $12.5 billion in international sovereign bonds. While the IMF showed willingness to consider the government's alternative proposals, analysts caution that significant changes to the bailout terms may be limited. Overall, the engagement aims to guide Sri Lanka through its economic recovery while balancing reform demands and political pressures.