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Free AccessSri Lanka: IMF Approves $3B Under Extended Fund Facility
- The Executive Board of the IMF approved today a 48‑month extended arrangement under the Extended Fund Facility EFF with an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion) - Bloomberg
- "The economy is facing significant challenges stemming from pre-existing vulnerabilities and policy missteps in the lead up to the crisis, further aggravated by a series of external shocks"
- "The objectives of the EFF-supported program are to restore macroeconomic stability and debt sustainability, safeguarding financial stability, and stepping up structural reforms to unlock Sri Lanka’s growth potential."
- Full statement: https://www.imf.org/en/News/Articles/2023/03/20/pr...
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.