“Sri Lanka has now received financing assurances from all major bilateral creditors” IMF

The International Monetary Fund (IMF) says that as Sri Lanka has received financing assurances from all major bilateral creditors, it paves way for consideration by the IMF’s Board on March 20 the approval of the Staff Level Agreement reached on September 1, 2022.

“Sri Lanka has now received financing assurances from all major bilateral creditors. This paves the way for consideration by the IMF’s Board on March 20 the approval of the Staff Level Agreement reached on September 1, 2022 for financing under an Extended Fund Facility. Approval by the Board would also catalyze financing from other creditors, including the World Bank and the Asian Development Bank. The arrangement will support the authorities’ program of ambitious reforms, that they have already embarked upon, which will help Sri Lanka emerge from its current crisis and set it on a trajectory of strong and inclusive growth.”