Sri Lanka receives US $ 780 million in SDR from IMF

25 August 2021 08:55 am Views - 257

• The IMF allocated SDRs of US $ 650 million to the member states in proportion to the share of each of them
• The IMF says the SDRs were primarily meant to augment reserves, but the  member states could use them for health and social needs where needed

By Kelum Bandara  

Sri Lanka received US $ 780 million Special Drawing Rights (SDR) from the International Monetary Fund, an official said.  

The IMF allocated SDRs of US $ 650 million to the member states in proportion to the share of each of them on August 23. The IMF started allocation of money to the accounts of each country.  

Finance Ministry Secretary S.R. Attygalle confirmed that the Central Bank received the share of Sri Lanka roughly amounting to US $ 780 million.    

The IMF says the SDRs were primarily meant to augment reserves, but the member states could use them for health and social needs where needed. In the region, India and Bangladesh had received US $ 17.8 billion and US $ 1.5 billion respectively.  

SDRs are international reserve assets created by the IMF to supplement the official reserves of member countries. 

 

• Finance Ministry Secretary S.R. Attygalle confirmed that the Central Bank received the share of Sri Lanka