It is reported that the official statement regarding the extended credit facility provided by the International Monetary Fund will be announced tonight (20).
It is reported that the final decision is to be taken at today's meeting of the International Monetary Fund's executive board regarding the extended credit facility of 2.9 billion US dollars that Sri Lanka is expected to receive.
IMF assurance will send positive signals to multilateral and bilateral creditors about the trajectory of the Sri Lankan economy. According to Sergi Lanau, deputy chief economist at the Washington-based Institute of International Finance, "IMF approval certifies to the world that Sri Lanka is on the right path" However, he cautioned, entering an IMF program is "just the beginning."
The State Ministry of Finance stated that the Executive Committee of the International Monetary Fund is scheduled to meet tonight (Sri Lankan time), and a final decision will be reached regarding the approval.
It is stated that after the committee meeting, the Executive Committee of the International Monetary Fund will announce the relevant decision through a special press conference.
Accordingly, the extended credit facility of the International Monetary Fund is to be received in 4 years and it is expected that the first instalment of 300 million US dollars will be received at the end of March.
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