Nov 02, 2019

Approval for US$164 million to Sri Lanka as 6th disbursement Featured

Approval has been granted for the 6th instalment given to Sri Lanka by the IMF of USD 164 million.

Under the three year project Sri Lanka’s extended arrangement was approved on June 3, 2016, the IMF approved a sum of US$1.5 billion.  

Although Sri Lanka was scheduled to receive the last disbursement in November last year, due to the political crisis in the country it was temporarily suspended.

On May 13, 2019, the Executive Board approved an extension of the arrangement by one additional year, until June 2, 2020, with re-phasing of remaining disbursements.

Accordingly, after the reviewing Sri Lanka’s economic performance the IMF approved the sixth instalment for  Sri Lanka of USD 164 million.