The Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe, stated that Sri Lanka stands ready to unlock the International Monetary Fund (IMF) programme this month.
Speaking at a press conference held this afternoon (03 March), Dr. Weerasinghe assured that all required prior actions with the IMF have been completed.
“We have now completed all the required prior actions with the IMF and stand ready to unlock the IMF programme, hopefully, this month”, he said in this regard.
Meanwhile, the CBSL has decided to increase the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) by 100 basis points to 15.50% and 16.50%, respectively, with effect from the close of business today.
The decision was taken at a meeting held this afternoon, in an attempt to fulfill the pre-requisites required to move forward with the finalisation of the IMF Extended Fund Facility (EFF) arrangement Sri Lanka currently awaits.
