March 25, 2023, Colombo: USD 121 million out of USD 333 million, the first tranche extended to Sri Lanka by the International Monetary Fund (IMF), was used to pay the instalment of the Indian credit line yesterday (March 24), State Minister of Finance Ranjith Siyambalapitiya said.
“The loans the IMF gives are usually credited to the Central Bank account; however, this time, the relevant loan amount has been credited to the account by the Treasury Deputy Secretary. Therefore it can be used for debt stabilization,” Minister said.
On March 20, 2023, the IMF Board approved a 48-month extended arrangement under the Extended Fund Facility (EFF) of SDR 2.286 billion (about USD 3 billion) to support Sri Lanka’s economic policies and reforms.
