Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary, staff-level agreement on an emergency loan and a formal announcement is likely on Thursday, the Reuters news agency reported.
A hybrid press conference on the IMF Sri Lanka Extended Fund Facility Mission will be held on Thursday, at 11.00 a.m. at the Central Bank. An IMF press release on the mission will also be released prior to the press conference.
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"The IMF Mission in Colombo has been extended by one day because discussions are still ongoing with the authorities," Peter Breuer, Senior Mission Chief for Sri Lanka, and Masahiro Nozaki, Mission Chief for Sri Lanka said.
"We plan to conclude the mission and issue a press release on Thursday, September 1st."
The island nation, struggling with its worst economic crisis in more than seven decades, had sought up to $3 billion from the IMF.