header logo
සිංහලதமிழ்
Vallibel FD
vallible LE
Latest
Sri Lanka receives first tranche of IMF bailout
Google NewsAdd on Google
Sri Lanka receives first tranche of IMF bailout
Mobitel inner 1278

The Ministry of Finance has received the first tranche of the Extended Fund Facility (EFF)  form the International Monetary Fund (IMF).

 

Accordingly, Secretary to the Ministry of Finance Mahinda Siriwardena confirmed that USD 333 million was received by the Ministry today.

 

He stated this during a meeting held in this regard with President Ranil Wickremesinghe  and the Heads of media institutions.

 

The Executive Board of the IMF approved the Extended Fund Facility (EFF) to Sri Lanka at its board meeting held on Monday (20 March).

 

The program will allow Sri Lanka to access financing of up to US$ 7 billion from the IMF, International Financial Institutions (IFIs) and multilateral organizations.

 

The 48-month extended arrangement with an amount of SDR 2.286 billion (395 percent of quota or about USD 3 billion) was approved under the EFF, with the aim of restoring Sri Lanka’s macroeconomic stability and debt sustainability, mitigating the economic impact on the poor and vulnerable, safeguarding financial sector stability, and strengthening governance and growth potential, the IMF said.

 

 

 

Disclaimer: All the comments will be moderated by the AD editorial. Abstain from posting comments that are obscene, defamatory or slanderous. Please avoid outside hyperlinks inside the comment and avoid typing all capitalized comments. Help us delete comments that do not follow these guidelines by flagging them (mouse over a comment and click the flag icon on the right side). Do use these forums to voice your opinions and create healthy discourse.

Comments

0
Comments are disabled

Note: Due to legal constraints, the Ada Derana Editorial team has taken a decision to disable comments on all articles concerning ongoing court procedures.

MostRead
Mobitel 1278
VideoStories
Heavy rains expected in Northern and Eastern areas - Met Department warns

Heavy rains expected in Northern and Eastern areas - Met Department warns

Van driver arrested after collision with motorcycle kills father and son in Chavakachcheri

Van driver arrested after collision with motorcycle kills father and son in Chavakachcheri

Laugfs Gas CEO apologises to consumers over LP gas shortage, explains price hike

Laugfs Gas CEO apologises to consumers over LP gas shortage, explains price hike

Policy inconsistencies hinder investor confidence - Tax specialist says at post-budget forum

Policy inconsistencies hinder investor confidence - Tax specialist says at post-budget forum

SEC backs key 2027 Budget proposals to strengthen capital market

SEC backs key 2027 Budget proposals to strengthen capital market

‘AI Center of Excellence’ aims to develop industry-specific solutions-Dy Minister of Digital Economy

‘AI Center of Excellence’ aims to develop industry-specific solutions-Dy Minister of Digital Economy

JVP marks 37th November Heroes’ Day under President’s patronage today

JVP marks 37th November Heroes’ Day under President’s patronage today

Debate on Second Reading of 2027 Budget gets underway in Parliament

Debate on Second Reading of 2027 Budget gets underway in Parliament

SC clears PSTA Bill for passage with simple majority; Four amendments required at Committee Stage

SC clears PSTA Bill for passage with simple majority; Four amendments required at Committee Stage

Rajangane Saddharathana involved inclash at A’pura protest siteThree monks takeninto police custody

Rajangane Saddharathana involved inclash at A’pura protest siteThree monks takeninto police custody

2027 Budget deficit projected at Rs.1.75 trillion;Tax-free income threshold increased to Rs.162,500

2027 Budget deficit projected at Rs.1.75 trillion;Tax-free income threshold increased to Rs.162,500

President presents 2027 Budget in Parliament;Calls for national unity to build Sri Lanka’s future

President presents 2027 Budget in Parliament;Calls for national unity to build Sri Lanka’s future

Several areas including Colombo receive heavy rains | Rainfall likely to increase on Nov 14, 15 & 16

Several areas including Colombo receive heavy rains | Rainfall likely to increase on Nov 14, 15 & 16

President to deliver 2027 Budget Speech tomorrow | Focus on macro picture of Budget – Dy Minister

President to deliver 2027 Budget Speech tomorrow | Focus on macro picture of Budget – Dy Minister

Pilotless passenger drone makes inaugural flight in Sri Lanka

Pilotless passenger drone makes inaugural flight in Sri Lanka

Lassana Flora