Sri Lankan finance minister to visit India today hoping to seal $1 bn LoC

Sri Lankan government will seek financial support from the IMF, softening its resistance against the international lender as it desperately tries to salvage the country’s beleaguered economy that is currently reeling under a severe foreign exchange crisis.

On Tuesday, Finance Minister Basil Rajapaksa gave the nod to seek assistance from the International Monetary Fund (IMF).

“The Cabinet approval has been given to the Finance Minister to go ahead and discuss with the IMF”, Cabinet spokesman Ramesh Pathirana told reporters.