IMF approves disbursement of USD 164.1 million for Sri Lanka

IMF approves disbursement of USD 164.1 million for Sri Lanka

(FASTNEWS|COLOMBO) – The Executive Board of the International Monetary Fund (IMF) completed the Fifth Review of Sri Lanka’s economic performance under the program supported by an extended arrangement under the Extended Fund Facility (EFF).

Completion of this review, upon the granting of waivers of non-observance for the end‑December 2018 performance criteria on the primary balance and net official international reserves, makes available SDR 118.5 million (About USD 164.1 million), bringing total disbursements under the arrangement to SDR 833.73 million (About USD 1.155 billion). The Executive Board also approved an extension of the arrangement by one additional year, until 02 June, 2020, with re-phasing of remaining disbursements.

Sri Lanka’s 3-year extended arrangement was approved on 03 June, 2016, in the amount of about SDR 1.1 billion.

Source: www.imf.org

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