COLOMBO: Sri Lankan President Gotabaya Rajapaksa has formed a debt sustainability advisory council made up of economic and financial specialists, according to the president's media division.

Indrajit Coomaraswamy, former Governor of the Central Bank of Sri Lanka, Shanta Devarajan, former Chief Economist with the World Bank, and Sharmini Coorey, former Director of the International Monetary Fund (IMF) Institute for Capacity Development, are among the members of the advisory group, according to reports.

On Wednesday night, the division announced that members of the advisory committee had already met with the president to discuss keeping frequent communication with the IMF.

The Presidential Advisory Group's tasks include engaging in discussions with key Sri Lankan institutions and authorities working with the IMF, as well as providing advise that will solve the current debt crisis and lead to Sri Lanka's sustainable and inclusive recovery. Officials claimed the advisory group has been tasked with meeting with Sri Lankan officials involved in International Monetary Fund negotiations and providing advice on how to resolve the present debt crisis.

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