The International Monetary Fund said it will need "adequate assurances" from Sri Lanka's creditors for a new program as it prepares a visit to Colombo later this month.

The goal of the visit is to make progress on a staff-level agreement for an aid package "in the near term," to help the island nation weather a severe economic crisis, the IMF said on Friday.

Staff from the global lender will be in Colombo from August 24 to 31, the IMF said.