- Fishy business caught by fraying India-Bangladesh ties
- US Open champion Sabalenka chases year-end number one ranking
- New Zealand scientists discover ghostly 'spookfish'
- Trump slams early voting, even while urging Pennsylvanians to do so
- Major Hurricane John hits Mexico's Pacific coast
- IMF says ready for talks with Sri Lanka's new leftist government
- Phillies clinch division title, eye top seed
- Bills trample Jaguars, Commanders claw Bengals
- Hong Kong, Shanghai rally on China stimulus on mixed day for markets
- Back to death row? Retrial verdict due in Japan murder saga
- Rare corruption trial of Singapore ex-minister begins
- Ghana a long way off from gender equality despite new law
- China unveils fresh stimulus to boost economy
- Hamas weakened, not crushed a year into war with Israel
- Israeli economy struggles under weight of Gaza war
- Israelis united in trauma, divided by war after October 7
- New York Liberty riding WNBA boom into playoffs
- Environmental groups urge EU 'high risk' label for Sarawak
- Argentina seeks Maduro's arrest for crimes against humanity
- Morales issues Bolivian president 24-hour ultimatum to shake up cabinet
- Armenia and Azerbaijan see progress, but peace treaty seems distant
- World leaders gather at UN as Mideast tensions explode
- Biden's UN goodbye aims to 'Trump-proof' legacy
- Singapore ex-minister set for high-profile corruption trial
- Man Utd, Spurs eye respite from domestic woes in Europa League
- Guatemala picks Supreme Court judges with focus on anti-graft fight
- Jill Biden announces $500 million for women's health research
- Injured All Blacks centre Jordie Barrett out of Australia Test
- 'Lead the future': youth challenge world leaders at UN
- Goosebumps and stars as Paris Fashion Week kicks off
- Boeing boosts pay offer in effort to end strike
- Man Utd stadium regeneration could add £7.3bn to British economy
- At COP16, Colombia seeks to lead by example on biodiversity
- Dupont caps off Olympic gold season with Top 14 player award
- Leeds to expand Elland Road to 53,000 capacity
- Mysterious 18th century diamond necklace set for auction
- World's oceans near critical acidification level: report
- California sues oil giant Exxon over plastic recycling 'myth'
- As wars rage, UN's critics say global body is failing its mission
- Amazon forest has lost an area the size of Germany and France
- Nadal, Alcaraz and Sinner in Davis Cup finals teams
- Telegram's Durov announces new crackdown on illegal content
- African players in Europe: Ice-cool Jackson strikes twice
- Man City's Rodri 'out for season' after ACL injury: reports
- Venezuelan court issues arrest warrant for Argentina's Milei
- Arsenal not yet a match for Man City-Liverpool rivalry, says Silva
- Black Eyed Peas star harnesses AI for novel radio product
- England cricket captain Knight reprimanded over 'blackface' photo
- Gunman revealed Trump plot months before golf course arrest: DOJ
- Iran president accuses Israel of seeking conflict, says opposes war
IMF says ready for talks with Sri Lanka's new leftist government
The International Monetary Fund is ready to discuss its controversial $2.9 billion bailout programme for Sri Lanka with the country's new government, a spokesman said.
Anura Kumara Dissanayake, sworn in Monday as the country's first leftist president, has said he wants to renegotiate the deal, which has brought unpopular austerity measures.
"We look forward to working together with President Dissanayake... towards building on the hard-won gains that have helped put Sri Lanka on a path to economic recovery," an IMF spokesperson in Washington said Monday.
The lender of last resort noted that the South Asian nation, which defaulted on its debt in April 2022, had stabilised since the bailout.
"We will discuss the timing of the third review of the IMF-supported programme with the new administration as soon as practicable," the spokesperson said referring to the periodic review of the bailout.
A senior aide of the new president told AFP a day after the election that his People's Liberation Front party will "not tear up" the IMF deal.
"Our plan is to engage with the IMF and introduce certain amendments," Bimal Ratnayake said.
"We will not tear up the IMF programme. It is a binding document, but there is a provision to renegotiate."
Sri Lanka's tiny stock market fell sharply within the first few minutes of trading on Monday, when Dissanayake took office, but recovered quickly and ended the day with the main All Share Price index 1.19 percent higher.
Dissanayake has pledged to reduce income taxes that were doubled by his predecessor Ranil Wickremesinghe, and also slash sales taxes on food and medicines.
"We think we can get those reductions into the programme and continue with the four-year bailout programme," Ratnayake said.
Dissanayake's rivals had raised fears that his Marxist party would scrap the IMF programme and push the country back into an economic crisis similar to the chaos of 2022.
A foreign exchange crisis led to shortages of essentials sparking street protests which eventually forced then leader Gotabaya Rajapaksa to flee the country and resign.
L.E.Campos--PC