Govt. confident in receiving next US $ 330mn IMF tranche

Shehan Semasinghe 

Finance State Minister Shehan Semasinghe yesterday said Sri Lanka is poised to receive the second tranche of US $ 330 million, subsequent to the approval of the first review of the Extended Fund Facility (EFF) by the International Monetary Fund (IMF) Executive Board.
The IMF and Sri Lanka entered into a staff-level agreement this week, on the first review of the EFF but needs the approval of the IMF Executive Board for the disbursement of the second tranche.
Semasinghe said there is nothing to be concerned about the potential disbursement of the second tranche.
He noted that the staff-level agreement would enable the World Bank, Asian Development Bank and other multilateral financial institutions to make the remaining payments, further expediting Sri Lanka’s debt restructuring efforts with the international partners.
He made these remarks at a press conference held yesterday at the Presidential Media Centre, under the theme ‘Collective Path to a Stable Country’. 
Semasinghe expressed optimism that the agreements related to debt restructuring may soon be finalised, aligning with the government’s objectives of reducing corruption and increasing transparency.