IMF approves funding for Sri Lanka

The Executive Board of the IMF has approved Sri Lanka's USD 2.9bn bailout package, State Minister of Finance, Shehan Semasinghe confirmed to Daily Mirror a short while ago.

He said that President Ranil Wickremesinghe is to make a special statement tomorrow.

The President's Media Division said that President Ranil Wickremesinghe expressed his gratitude for the support of the IMF and other international partners.

"The IMF Executive Board approved Sri Lanka’s program under the Extended Fund Facility (EFF) that will enable Sri Lanka to access up to $7 billion in funding. The President committed to full transparency in all discussions with financial institutions & creditors, & to achieve sustainable levels of debt through prudent fiscal management & an ambitious reform agenda. The IMF program is critical to achieving this vision & will help to improve Sri Lanka's standing in international capital markets, making it an attractive country for investors, talent, & tourists," the PMD said.

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