COLOMBO – Sri Lanka is set to receive US$ 1,363 million under an International Monetary Fund (IMF) program by 2025, with additional backing from the Asian Development Bank (ADB),
Minister Bandula Gunawardana, speaking at a post-Cabinet briefing on Tuesday (27), confirmed that $63 million is expected from the IMF as part of the program, which typically involves two reviews per year.
He also said that $400 million is anticipated from the World Bank for the 2025 budget, along with $300 million from the ADB. Additionally, Gunawardana highlighted that debt relief totalling US$ 3,655 million is expected, which will contribute to bridging an external resource gap estimated at US$ 5.018 million.
Under the IMF agreement, Sri Lanka is also required to build up its foreign reserves. The program, which runs through March 2025, mandates the accumulation of $250 million in foreign reserves in the first quarter under a net international reserve target. By the end of the year, gross international reserves are projected to increase by US$ 1, 569 million..
– economynext.com
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