Sri Lanka is expecting the second International Monetary Fund (IMF) tranche immediately after the donor agency board meeting on December 6, Ministry of Finance sources said.
The IMF last October announced that it has finalised an agreement with Sri Lanka to deploy the second tranche of US $ 3 billion loan which comes to $ 330 million,to aid the recovery of the country.
The officials said that Sri Lanka has managed to meet a few preconditions like raising value added tax to increase revenue collections which the donor agency was concerned about. They also said fast tracking state owned enterprise restructuring was also welcomed by the IMF.
An official told the Business Times That China has indicated some adjustment in external debt restructuring to the Treasury, and these terms have been conveyed to the Paris Club. “There is a certain understanding reached with China pertaining to external debt restructuring.”
The Treasury on October 11 confirmed that it had completed its debt restructuring negotiations worth dollars 4.2 billion with China's Export Import Bank. However, the terms of this agreement are not public as yet. (DEC)
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Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred
The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.
The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.
A SriLankan airlines flight has been grounded in an airport in Indonesia due to a technical defect leaving 93 passengers stranded, an official said.
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