COLOMBO (News 1st); Sri Lanka has now received financing assurances from all major bilateral creditors, said Krishna Srinivasan, Director of Asia and Pacific Department of IMF on Tuesday (7).This paves the way for consideration by the IMF’s Board on March 20th the approval of the Staff Level Agreement reached on September 1st, 2022 for financing under an Extended Fund Facility.
Approval by the Board would also catalyze financing from other creditors, including the World Bank and the Asian Development Bank, he said in a statement.The arrangement will support the authorities’ program of ambitious reforms, that they have already embarked upon, which will help Sri Lanka emerge from its current crisis and set it on a trajectory of strong and inclusive growth, said Krishna Srinivasan, Director of Asia and Pacific Department of IMF..