IMF chief Georgieva hopes to complete Sri Lanka aid talks 'as quickly as possible'

IMF hopes to complete negotiations with Sri Lanka on a bailout package "as quickly as possible" and "moment re is a government" in country, its Managing Director Kristalina Georgieva said on Wednesday, hours after crisis-hit island nation elected a new president.

Sri Lanka has been gripped by severe shortages of fuel, food and or essentials after its foreign reserves dried up. Citizens have turned ir anger on government and forced once-powerful President Gotabaya Rajapaksa to resign last week.

On Wednesday, Sri Lankan Parliament elected Acting President Ranil Wickremesinghe as his replacement.

"IMF hopes to complete negotiations with Sri Lanka "as quickly as possible, & moment re is a govt we can continue our discussions & our team will be re," Georgieva said, Hiru News reported.

Wickremesinghe in his previous capacity as prime minister and finance minister has been involved in negotiations with Washington-based International Monetary Fund (IMF).

Sri Lanka's large creditors include Japan, China and India.

worst economic crisis since Sri Lanka gained independence in 1948 also sparked a political crisis in country after a popular uprising against government of Rajapaksa.

Sri Lanka needs about USD 5 billion in next six months to cover basic necessities for its 22 million people, who have been struggling with long queues, worsening shortages and power cuts.

country's inflation topped 50 per cent in June after two years of money printing and an attempted float botched with a surrender requirement which sent rupee sliding to 360 to US dollar from 200.

economic crisis also sparked a political crisis in country after a popular uprising against government.