Sri Lanka makes progress towards IMF credit - IMF

FILE PHOTO: A woman moves a gas tank as she stands in line to buy another tank near a distributor, amid the country's economic crisis, in Colombo, Sri Lanka, June 1, 2022. REUTERS/Dinuka Liyanawatte

COLOMBO (Reuters) -The International Monetary Fund reported constructive talks with Sri Lankan authorities on Thursday, raising hopes it could soon grant preliminary approval for a credit facility to alleviate a crisis in which the country is struggling to pay for imports.

"The discussions will continue virtually with a view to reaching a staff-level agreement on the EFF arrangement in the near term," IMF said, referring to the credit arrangement, called an extended fund facility.