Sri Lanka to get $50M IMF deal-linked policy loan from OPEC Fund

Sri Lanka
By Editor_1

COLOMBO – Sri Lanka’s cabinet has approved signing an agreement for a $50 million policy-based loan from the OPEC Fund for International Corporation, according to a statement released by the Department of Government Information.

The loan is linked to financing coming in parallel with the Extended Fund Facility of the International Monetary Fund (IMF), the statement said

Sri Lanka has so far got policy-based loans linked to the IMF program from the World Bank and Asian Development Bank.

Japan, which used to co-finance IMF programs after previous currency crises, can not give new loans until the bilateral debt restructuring is complete.

-economynext.com

Editor_1
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