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IMF grants total of USD 17.5 Bn to combat the economic impact to globe, Sri Lanka is talking to IMF

Global IndexesMay 7, 2020
IMF grants total of USD 17.5 Bn to combat the economic impact to globe, Sri Lanka is talking to IMF
The International Monetary Fund has granted a total of USD 17.5 Bn to the countries under two programs RCF and RFI. The Rapid Credit Facility (RCF) provides rapid concessional financial assistance with limited conditionality to low-income countries (LICs) facing an urgent balance of payments need. The Rapid Financing Instrument (RFI) provides rapid financial assistance, which is available to all member countries facing an urgent balance of payments need. In April Sri Lanka’s central bank asked for IMF support under its Rapid Financing Instrument (RFI).Sri Lanka has already borrowed USD 1.3 Billion from the IMF over for support over the previous balance of payments crises.

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