Exclusive: Crisis-hit Sri Lanka strikes staff-level loan pact with IMF
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Loading... - Johnson Douanla
- 31 Aug 2022
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Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary agreement on an emergency loan to the crisis-hit country and a formal announcement will be made on Thursday, four sources with direct knowledge of the matter said.
The debt-laden island nation had sought up to $3 billion from the global lender as it struggles with its worst economic crisis in more than seven decades. Sri Lankans have faced acute shortages of basic goods and sky-high prices for months.
The sources, who declined to be named ahead of an official announcement, did not say how much money Sri Lanka might get.
The IMF said a visiting team that arrived a week ago had extended its stay by a day and would address a news conference at the central bank on Thursday morning.
"The IMF Mission in Colombo has been extended by one day because discussions are still ongoing with the authorities," it said in a statement.
Spokespersons for the Sri Lankan government did not respond to requests for comment.
Presenting an interim budget for the rest of the year, Sri Lankan President Ranil Wickremesinghe told parliament on Tuesday that talks with the IMF had reached the "final stage". Read More...
