New Central Bank Governor Dr. P. Nandalal Weerasinghe yesterday said the critical support program from the International Monetary Fund (IMF) and foreign debt restructuring exercise will be fast tracked as part of overall measures to ensure growth supportive macro-economic stability.

He said that formal discussions with the IMF will begin virtually early next week whilst an official delegation will attend the IMF-World Bank Spring meetings in Washington DC the week after and continue the negotiations. Already several rounds of technical level talks have been held this week.

Weerasinghe also said the Request for Proposals to select the advisor for foreign debt restructuring will be out immediately and the competent party selected within two weeks.

“The President has given the authority to expedite the finalisation of an IMF support program as well as foreign debt restructuring process,” the CBSL Governor told journalists last evening in his first briefing. 

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