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Sri Lanka crisis

Sri Lanka eyes December bailout, IMF says timing hard to predict

Colombo seeks one-stop shop for talks with creditors like China, India, Japan

Drivers push auto rickshaws in a line to buy fuel in Colombo in late July, during the country's economic crisis. The government has said it aims to finalize a $2.9 billion IMF bailout by December.   © Reuters

COLOMBO -- Sri Lanka's government appears increasingly upbeat about its chances of receiving International Monetary Fund board approval for a $2.9 billion bailout by December, but the multilateral lender has cautioned that the time frame remains uncertain, and much depends on discussions with the heavily indebted country's creditors.

Peter Breuer, senior mission chief for Sri Lanka, and Masahiro Nozaki, mission chief for Sri Lanka, in written comments to Nikkei Asia, said, "It is difficult to predict the timeline, as the process of debt relief discussions takes time. All parties who are involved in the process should move expeditiously, so that Sri Lanka can emerge from the crisis as quickly as possible."

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