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    An IMF Team to Arrive in Sri Lanka – The Government is Confident

    A team from the International Monetary Fund (IMF) is scheduled to visit Sri Lanka this week.

    That is to carry out the 2nd review to be done in relation to the Extended Fund Facility (EFF) approved by that fund for Sri Lanka.

    IMF has given 2 installments to Sri Lanka under that loan program of 2.9 billion US dollars.

    The 2nd review to be done before the approval of the 3rd installment is scheduled to start from the 7th.

    Are the agreements and conditions of both parties fulfilled while availing the advance installments? How are responsibilities fulfilled? Has Sri Lanka achieved the proper goals for economic development in this country? will be considered in this review.

    They will conduct the relevant review for almost 2 weeks.

    Minister of State for Finance Shehan Semasinghe had earlier stated that he believed this would be easier than the first review as the basic policies agreed upon by the government had already been implemented.

    If the review is successful, the third tranche of USD 334 million will also be released to Sri Lanka.

    The State Minister had also said that the financial status of the Sri Lankan government and other agreements reached with the IMF will be reviewed in full until December 31.

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