SNOWSTORM POSTPONES IMF MEETING

A snowstorm in Washington forced International Monetary Fund (IMF) Managing Director Christine Lagarde to postpone meeting with the Sri Lankan delegation. Otherwise, the meeting was scheduled for yesterday.

Having lived in US Midwest previously, I am surprised how such little snow can shut the Capital down

Minister Dr. Harsha de Silva, who is a delegate, tweeted that all the meetings of IMF had been postponed due to the snowstorms in Washington.

“All meetings, including the one Sri Lankan was to have with IMF Managing Director Lagarde have been rescheduled as ‘snow storm’ forces them to close the IMF office,” Dr de Silva said in his twitter message.

“Having lived in US Midwest previously, I am surprised how such little snow can shut the Capital down. Jan 14, 2019: Repayment of USD 1 billion ISB MR borrowed due today,” he added. However, the Minister did not reveal as to when the meetings would take place.

The team led by Finance Minister Samaraweera, comprising Central Bank Governor Dr. Indrajith Coomaraswamy, Non- Cabinet Minister Dr. Harsha de Silva and Treasury Secretary Dr. R. H. S. Samaratunga were to discuss about Sri Lanka’s External Fund Facility (EFF) where the government hopes to earn US $ One billion to stabilizer the rupee. Sri Lanka has lost nearly US$ One billion reserves due to the recent political crisis. Prime Minister Ranil Wickremesinghe said earlier last week that the delegation led by Minister Samaraweera will strive to raise US$ 1.9 billion from the international money markets.