Sri Lanka Deal with IMF for $2.9 Billion Loan
Sri Lanka has reached a staff-level agreement with the International Monetary Fund for a $2.9 billion loan. It would be a key step for the crisis-hit country to unlock more funds and restructure its debt. The Fund’s Extended Facility agreement will support Sri Lanka’s programs to restore macroeconomic stability and debt sustainability. The IMF added […]
IMF says Sri Lanka deal moves forward and needs guarantees from creditors
IMF says Sri Lanka deal moves forward and needs guarantees from creditors. The International Monetary Fund says, “Significant progress” has been made toward an aid program for Sri Lanka. It requires restoring debt sustainability and financing guarantees from the country’s creditors. It also requires “far-reaching” fiscal reforms. “Monetary, fiscal and other actions by the authorities […]