IMF delegation holds key talks in Colombo

A delegation from the International Monetary Fund (IMF) has had key talks in Colombo.

The discussions were focused on the funding programme with Sri Lanka which had been suspended by the IMF late last year.

The International Monetary Fund had approved a three-year extended arrangement on June 3, 2016, in the amount of about US$ 1.5 billion in six installments.

The 5th instalment of this loan facility was scheduled to be given in November last year. However, the IMF postponed the disbarment of the 5th tranche due to the political instability last year.

After completion of the fifth review Sri Lanka is expected to receive a fifth tranche of about $250 million. The total loan was expected to have been disbursed with a sixth tranche by mid-2019. (Colombo Gazette)

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