IMF approves second loan tranche

The International Monetary Fund has greenlit a second loan tranche of US$ 337 million for Sri Lanka.

The International Monetary Fund has greenlit a second loan tranche of US$ 337 million for Sri Lanka.

The initial review of the 48-month extended financial facility between the International Monetary Fund and Sri Lanka occurred recently, and the Executive Board of the International Monetary Fund has made the decision.

Expressing satisfaction with Sri Lanka's progress, the Executive Board has authorized the immediate disbursement of a financial facility totaling SDR 254 million (approximately US$ 337 million) to Sri Lanka, pending the completion of the first review.

Consequently, the total financial assistance provided to Sri Lanka under the International Monetary Fund's disbursed financing facility now stands at SDR 508 million.