No+conditions%2C+only+financial+discipline+expected+from+IMF+on+assistance+%E2%80%93+says+Finance+Minister
Monday, 18 April 2016 - 12:51
No conditions, only financial discipline expected from IMF on assistance – says Finance Minister
1,449

Views

Sri Lanka could get funds from an International Monetary Fund in June 2016, if a preliminary deal is reached in Washington on the side lines of annual meeting of the agency and World Bank.

Sri Lanka is hoping to get at least a billion US dollars under a structural reform driven Extended Fund Facility which will run for three years.

IMF and Central Bank officials said that a preliminary deal is expected to be reached in a few days but it has to be approved by various departments of the IMF and then go to the Board.

Central Bank's Deputy Governor P Samarasiri told reporters last week that IMF Board approval is likely in early June.

IMF money goes to boost central bank reserves and will bridge the budget deficit of the United States if a recipient country is pegged to the US dollar and has prudent reserve management.

However, a reform based EFF could also get funds from other development partners like the Asian Development Bank or World Bank based on structural benchmarks that are built into it.

Finance Minister Ravi Karunayake, who is second vice chair of the Group of 24 said, during a media briefing in Washington that no conditions have been imposed.

Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE
HiruNews
News Image
Hiru News Programme Segments
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
175 Views
HiruNews
HiruNews
HiruNews
78,570 Views
HiruNews
HiruNews
HiruNews
26,200 Views
HiruNews
HiruNews
HiruNews
55,392 Views
HiruNews
HiruNews
HiruNews
291 Views
HiruNews
HiruNews
HiruNews
122,326 Views
Top
hirunews,sri lanka news,political news,breaking news,sports,finance,entertainment,sri lanka,lanka, sri lanka news, lanka news, sri lanka cricket, sri lanka breaking news,news,A Rayynor Silva Holdings Company