The International Monetary Fund says that it is waiting for sufficient assurances from the creditors as well as the Sri Lankan authorities and the fulfillment of the remaining requirements in order to provide the extended credit facility to Sri Lanka.
As soon as the relevant assurances are received from the creditors, the staff agreement on the financial facility will be submitted to the Executive Board of the International Monetary Fund for approval, the Fund said.
“We welcome the recent announcement by the Paris Club to provide financial guarantees to Sri Lanka in line with the assurance given by India. Sri Lanka continues to engage with official bilateral creditors to obtain financial guarantees and is advancing domestic reforms.
As soon as sufficient assurances are obtained from creditors, including from the Sri Lankan authorities, and the remaining requirements are met, the Extended Fund Facility Arrangement for Sri Lanka can be submitted to the Executive Board of the IMF so that Sri Lanka can unlock the much-needed external financing,” the IMF spokesperson said.
The extended funding facility expected to be provided to Sri Lanka by the International Monetary Fund is US$ 2.9 billion.
