The agreement to provide the fourth instalment of Sri Lanka’s economic reform program sponsored by the International Monetary Fund’s Extended Fund Facility has been issued.
It followed IMF staff and Sri Lankan authorities reaching a staff-level agreement on economic policies to conclude its third review.
Accordingly, it is said that after the approval of the International Monetary Fund’s management and its executive board, Sri Lanka will have the opportunity to receive about 333 million dollars.
The announcement also states that the new government’s commitment to continuing the policies is important for achieving the program’s objectives.<\/p>\n\n\n\n
Peter Brewer led the International Monetary Fund delegation, which has been in this country since November 17. On March 20, 2023, the Fund approved a comprehensive credit facility of $2.9 billion for Sri Lanka. It is valid for 48 months.
The International Monetary Fund official team also held a press conference to reveal these facts.<\/p>\n\n\n\n
The first instalment, worth $333 million, was due on March 21, 2023. The second instalment, worth $337 million, was due on December 13, 2023. The third instalment, worth $336 million, was approved in June.<\/p>\n\n\n\n