Govt. expects US$700 million IMF tranche on May 27 — Deputy Minister

Deputy Minister of Finance and Planning Anil Jayantha says the government expects to receive US$700 million from the International Monetary Fund (IMF) on May 27.

Speaking in Parliament today (21), the Deputy Minister said Sri Lanka was continuing efforts to strengthen foreign exchange inflows through exports, foreign remittances, and international financial assistance.

He expressed confidence that the IMF Executive Board would approve the release of the next tranche amounting to US$700 million later this month.

Anil Jayantha further stated that Sri Lanka could also obtain up to US$480 million from the Asian Development Bank during this year.

In addition, he said the country was expecting US$150 million from the World Bank and another US$50 million from an affiliated institution.

The Deputy Minister noted that the government did not anticipate any major difficulties in managing the country’s foreign exchange situation.

Source: Adaderana