Sri Lanka in talks with IMF to replace existing deal

By Vyshnavy Velrajh

The Government of Sri Lanka has commenced discussions with the International Monetary Fund (IMF) to replace the current extended fund facility arrangement with the rapid financing instrument.

IMF spokesman Gerry Rice said the IMF has received a request from the Sri Lankan Government for emergency financial support, under the rapid financing instrument.

The IMF will be working in close coordination with the Government to assess all relevant factors related to that request.

The Sri Lankan authorities have also expressed interest in a range of options for future engagement with the Fund, he said.

The International Monetary Fund in April revealed it was set to review the current funding program provided to Sri Lanka, after it received a letter from the Government of Sri Lanka on the IMF’s Rapid Credit Facility in view of the global coronavirus outbreak.

The current extended fund agreement was reached between the IMF and the former Government. (Colombo Gazette)

1 COMMENT

  1. Former govt of UNP led unholy alliance of coalition has committed many mismanagement of Economy, Financial and Fiscal policies were disrupted National Economic Development and Democracy last 4 years and 6 months .
    It has ruin entire system of normal order economy by loot the Central Bank Bond scam since 2015 February to 2019 November 16th. I do not know why IMF and World Bank kept silent of this big fraude by UNP regime directly engaged by Prime-Minster of Ranil Wicks and core leadership of gang of UNP. Since 2015 Jan 8th that Last 4 and 6 months Economic development has gone bad to worse
    They leave last govt. without any criminal justice system of after looted trillions of national currency of Poor Tax Payers money .Current govt has NOT taken any action against UNP ex-Primer by judiciary procedure. We do not why current govt led by GR and MR delay this key issues not been investigated by ongoing ruling party.

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