Sri Lanka eyes USD 700mn IMF disbursement by end May – President

Sri Lanka eyes USD 700mn IMF disbursement by end May – President

Sri Lanka is aiming to reach a staff-level agreement with the International Monetary Fund by Thursday (09), President Anura Kumara Dissanayake revealed, in a move that could unlock up to $700 million in funding.

Addressing Parliament today (07), the President said talks with the visiting IMF team are ongoing and “productive,” with efforts underway to conclude discussions locally rather than finalising them overseas as in previous rounds.

He added that a successful agreement would pave the way for the simultaneous release of the fifth and sixth tranches under Sri Lanka’s IMF programme, potentially bringing in funds before the end of May.

Source: Adaderana

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