IMF Executive Committee will meet today to decide on the second loan tranche
December 12, 2023 - 9:28 AM
The Executive Committee of the Inte ational Monetary Fund is scheduled to meet today (12) for the first review related to the arrangements for providing a 48-month extended credit facility to Sri Lanka.
This is mentioned in the calendar of the Executive Committee of the Inte ational Monetary Fund, under which exemptions and changes from adherence to performance criteria, review and revision of financial guarantees, as well as consideration of access are to be considered.
According to the agreements reached after Sri Lanka became a bankrupt state, the Inte ational Monetary Fund had decided to provide a loan of 2.9 billion US dollars.
Its first tranche was previously owned and the executive committee meeting today is going to reach a decision on the release of the second loan tranche of 330 million US dollars.
Meanwhile, the State Minister of Finance Shehan Semasinghe stated that Sri Lanka's creditors will meet to reach an agreement on debt restructuring.
He mentioned that the creditors have reached a preliminary agreement in this regard.
The related agreements cover about $5.9 billion in outstanding public debt, and a final agreement is to be reached with creditors on extending debt repayment terms and reducing interest rates.
(lknews.lk)
This is mentioned in the calendar of the Executive Committee of the Inte ational Monetary Fund, under which exemptions and changes from adherence to performance criteria, review and revision of financial guarantees, as well as consideration of access are to be considered.
According to the agreements reached after Sri Lanka became a bankrupt state, the Inte ational Monetary Fund had decided to provide a loan of 2.9 billion US dollars.
Its first tranche was previously owned and the executive committee meeting today is going to reach a decision on the release of the second loan tranche of 330 million US dollars.
Meanwhile, the State Minister of Finance Shehan Semasinghe stated that Sri Lanka's creditors will meet to reach an agreement on debt restructuring.
He mentioned that the creditors have reached a preliminary agreement in this regard.
The related agreements cover about $5.9 billion in outstanding public debt, and a final agreement is to be reached with creditors on extending debt repayment terms and reducing interest rates.
(lknews.lk)
