The Central Bank said on Wednesday that agreement has been reached with the IMF on the $1.9 billion standby arrangement and it is due to be presented to the (IMF) board for approval shortly.
“The stand-by facility of US$ 1.9 billion which has been sought by the Central Bank of Sri Lanka from the IMF, has now reached an advanced level of finalization. Agreement has been reached with the IMF Staff and the facility is due to be submitted to the Board for its approval shortly,” the Bank said in a statement.
It also said negotiations in relation to the procurement of a facility of US$ 500 million by the Sri Lankan government from the Government of Libya, has reached an advanced stage. This long-term loan is expected to be disbursed within the next few weeks, it said. |
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