Gerry Rice, Director at the IMF Communications Department said at a press briefing recently that the authorities in Sri Lanka have expressed interest in a IMF supported program as one option to address the balance of payments, pressures that the country faces.

"We are considering the options and that will depend on our assessment of macroeconomic vulnerabilities, the nature and size of balance of payments needs, and government policies to address those vulnerabilities," the IMF official said.

A technical mission to review recent developments and options for reducing the size of Sri Lanka's 2016 budget deficit concluded February 5th.

The mission advised the Sri Lankan government to urgently make a stronger effort to narrow the fiscal deficit and put the public finances on a sustainable path although recent economic performance has been positive in a number of respects.

Rice said the future IMF negotiating mission that could take place in late March or early April will discuss and work out the issues.