Jul 17, 2017

IMF’s third loan installment in September! Featured

The IMF will release in September the 169 million US dollar third installment of the credit facility being extended to Sri Lanka, IMF sources say.

The fund has told the Sri Lankan government to beforehand fulfill several conditions, including the presentation of the Inland Revenue Act and the expansion of the Central Bank financial reserves.

The act is now before parliament and the other economic reforms too, are underway.

The IMF board will be asked in September to release the third installment, the sources say.

The loan can be utilized for the growth of the Central Bank financial reserves only.