Sri Lanka confident of reaching Staff Level deal with IMF
Sri Lanka today said it was confident of reaching a Staff Level agreement with the International Monetary Fund (IMF) to secure around US$338 million.
State Minister of Finance Shehan Semasinghe told Parliament that multiple discussions have taken place between the IMF and Sri Lanka in recent weeks.
He said that based on the ongoing discussions he was confident a Staff Level agreement will be reached over the next few days.
An IMF staff team visited Colombo last month (September) for the first review on Sri Lanka’s loan programme.
The Washington-based lender approved a nearly US$3 billion bailout for crisis-hit Sri Lanka in March.
The first review took place from September 14 through the 27 and considers the programme’s performance until end-June, and if approved by both the staff and the executive board, would allow a disbursement of around US$338 million. (Colombo Gazette)
