The International Monetary Fund (IMF) has on Monday reportedly completed the sixth review of Sri Lanka’s economic performance under a programme supported by a Stand-By Arrangement (SBA) and approved the disbursement of an amount equivalent to about US$ 218.3 million loan.
The IMF in a statement has said the completion of the review enables the immediate disbursement of an amount equivalent to about US$ 218.3 million, bringing total disbursements under the arrangement to an amount equivalent to about US$ 1.75 billion.
The Executive Board has also approved a waiver of applicability for the three end-March performance criterions on (i) the net international reserve target (ii) reserve money and (iii) net domestic financing of the central government.
A rephasing of the remaining disbursements was also approved by the Board. The US$ 2.62 billion SBA was approved on July 24, 2009.