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%
USD/LKR303/304
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.

Disclaimer

Charts represents an assessment of the market environment as of the date indicated and it is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.

The information presented does not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy or investment decision. This document contains general information only and does not take into account an individual’s financial circumstances. An assessment should be made as to whether the information is appropriate in individual circumstances and consideration should be given to talking to a financial advisor before making an investment decisions.