USD121 Mn from first tranche of IMF loan received to SL, paid to India

State Minister of Finance Ranjith Siyambalapitiya says that 121 million US dollars out of 333 million US dollars, the first tranche that was extended to Sri Lanka by the IMF, was used to pay the installment of the Indian credit line.

He said the relevant installment of 121 million US dollars was paid yesterday.  

" Usually the loans given by the International Monetary Fund are credited to the Central Bank account.  But 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," he said.

On March 20, the IMF Board approved a 48-month extended arrangement under the Extended Fund Facility (EFF) of SDR 2.286 billion (about US$3 billion) to support Sri Lanka’s economic policies and reforms.(Darshana Sanjeewa Balasuriya)