WASHINGTON, (Reuters) – The International Monetary Fund stated that discussions with Sri Lanka regarding a possible IMF loan program were in an early stage. Any deal would need “adequate assurances,” which will include the guarantee that Sri Lanka’s debts are on a viable path.

IMF Sri Lanka Mission chief Masahiro nozaki indicated that Kristalina Georgieva (Managing Director) discussed options for lending and policies with a Sri Lankan delegation in a statement sent to Reuters.

Nozaki explained that an IMF-supported programme should be developed to address Sri Lanka’s balance of payment problems. It also helps put the country back on a track for sustained growth.