Inflation ( CCPI)50.6% (Feb 2023)
GDP-12.4% (4Q 2022)
Unemployment5.0% (3Q 2022)
3M T-Bill Rate25.99%
12M T-Bill Rate24.31%
5Y T-Bond Rate27.00%/ 27.25%
10Y T-Bond Rate22.00% / 23.00%
USD/LKR335/341
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Reserves $2.22Bn (Feb 2023)
Cum. Trade Deficit $449Mn (Feb 2023)
Cum. Fiscal DeficitLKR 1,601Bn (Nov 2022)

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
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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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