IMF says held 'fruitful' technical talks with Sri Lanka on loan request

The Fund said in a statement that the discussions included the need for Sri Lanka to implement 'a credible and coherent strategy' to restore macroeconoimc stability

The International Monetary Fund said on Saturday that its staff held "fruitful technical discussions" with Sri Lankan authorities on the crisis-wracked country's request for an IMF-supported loan program this week.

The Fund said in a statement that the discussions included the need for Sri Lanka to implement "a credible and coherent strategy" to restore macroeconomic stability, and to strengthen its social safety net and protect the poor and vulnerable during the current crisis.

"The IMF team welcomed the authorities' plan to engage in a collaborative dialogue with their creditors," IMF Sri Lanka mission chief Masahiro Nozaki said in a statement.

The debt-burdened island