Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.14%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.60% / 11.70%
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Sri Lanka expects to receive IMF board approval after 200 days struggle

InternationalMar 7, 2023
Sri Lanka expects to receive IMF board approval after 200 days struggle

Sri Lanka reached the IMF staff-level agreement on 1st September 2022 after previous regime was reluctant to request such a bailout package. Since June 1965, Sri Lanka has taken 16 loans from the IMF. Zambia and Ghana have yet to obtain the IMF board’s approval.

Reuters reported that Sri Lanka looks set to get a sign-off on a long-awaited USD 2.9Bn 4-year bailout from IMF on March 20, which is after 200 days. IMF had taken a relatively long time to approve the rescue packages for the countries in debt traps, especially after COVID-19.


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