IMF agrees to extend Sri Lanka’s USD 1.5 billion loan facility by one-year
(FASTNEWS|COLOMBO) – The International Monetary Fund (IMF) on Friday (01) said it has reached an agreement with Sri Lanka to extend a USD 1.5 billion loan facility for an extra year, a move some analysts say could allow the Government to boost spending ahead of key elections, the Reuters reported.
The global lender also concluded its fifth review to ensure the terms of its lending facility are being met, allowing it to disburse the sixth tranche of the loan.