USD121Mn from first tranche of IMF loan received, paid to India

By Darshana Sanjeewa Balasuriya   

State Minister of Finance Ranjith Siyambalapitiya said  yesterday 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 instalment of the Indian credit line.  

He said the relevant instalment of 121 million US dollars was paid on Thursday.  
The Finance Ministry received USD 333 million, the first tranche of the IMF - EFF on Thursday.  

“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.