COLOMBO (NewsRadio); The government is scheduled to receive budgetary support through the International Monetary Fund which is a new element in IMF lending.
The IMF is scheduled to approve a USD 2.9 billion bailout package for Sri Lanka tomorrow.
Speaking to media, Governor of the Central Bank of Sri Lanka Nandalal Weerasinghe said Sri Lanka’s dollar crisis is over with the imminent approval of the IMF deal.
Governor Weerasinghe noted that Sri Lanka will have adequate foreign reserves for imports for essential sectors, adding that the IMF package will boost investor sentiment and enhance the country’s access to more foreign funds and investments.
Sri Lanka reached a staff-level agreement with the IMF in September following lengthy discussions to address the biggest financial crisis faced by the country in modern times.