IMF+extends+financial+assistance+by+one+more+year
Tuesday, 14 May 2019 - 11:08
IMF extends financial assistance by one more year
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The Board of Executives of the International Monetary Fund yesterday (13) decided to extend for another year, the USD 15 billion financial assistance being given to Sri Lanka.

That was subsequent to the fifth evaluation of financial policies and activities of Sri Lanka.

The IMF is providing this extended fund facility to Sri Lanka to settle the deficit in the Balance of Payments and to further strengthen reserves. According to the decision taken by the Board of Executives of the IMF yesterday, another disbursement of USD 164 million will be granted.

Accordingly, with the newest disbursement to Sri Lanka, the sum granted to this country has increased to USD 1.15 billion.

The IMF said that although the assistance programme is on the right path for a strong, complete development, Sri Lanka has to work on sustainable financial policies.

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