The International Monetary Fund has welcomed Sri Lanka’s in-principle agreement with lenders.
This paves the way for the first review of Sri Lanka’s bailout to be considered next month, the International Monetary Fund said.
Sri Lanka has already entered into an agreement with the Export-Import Bank of China for about $4.2 billion.
Sri Lanka’s expanded financial facility
After a month in this situation, an agreement has been reached by the co-leaders of the Paris Club.
In this context, the agreement will pave the way for the IMF Executive Board to consider the first review of Sri Lanka’s four-year extended financial facility arrangement, according to Peter Breuer, the head of the IMF’s mission to Sri Lanka.
He also mentioned that the Executive Council will carry out this review by mid-December.