More

    Sri Lanka Confident of “Smoother” IMF Second Review, Says Minister

    GovernanceAccountabilitySri Lanka Confident of “Smoother” IMF Second Review, Says...
    - Advertisment -

    Sri Lanka Confident of “Smoother” IMF Second Review, Says Minister

    An IMF mission is expected visit Sri Lanka on March 7 and will engage in the review of second tranche of the $3 billion IMF loan for two weeks.

    Sri Lanka’s second review for the International Monetary Fund (IMF) loan is anticipated to be smoother than the first one as the government has implemented many reforms prescribed by the fund agency for economic recovery, State Finance Minister Shehan Semasinghe told reporters in Colombo.

    An IMF mission is expected visit Sri Lanka on March 7 and will engage in the review of second tranche of the $3 billion IMF loan for two weeks.

    “The second review will commence on the 7 March, and we are very confident that will be a smoother review than the first review,” Semasinghe told reporters.

    He said the the first review was difficult because of hard policy decisions taken by the government in the initial stages.

    - Advertisement -

    The global lender completed the first review of the 48-month Extended Fund Facility (EFF) on December 12 before disbursing $337 million to support the island nation’s economic policies and reforms.

    The IMF after the first review said Sri Lanka’s performance under the program was satisfactory while “all but one performance criteria and all but one indicative targets were met at end-June”. Sri Lanka implemented most structural benchmarks due by end-October 2023, though some with delay.

    - Advertisement -

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest news

    India: ‘National Biobank’ and India’s Longitudinal Population Data Study at CSIR-IGIB Kick Off

    Drawing inspiration from the UK Biobank model, the Indian version of the biobank is tailored to capture the country’s unique diversity – across geography, ethnicity, and socio-economic backgrounds.

    Afghan Carpet Industry Seeks Government Support Amid Growth and Challenges

    The Afghan carpet industry is a significant part of the country's economy and cultural heritage, providing livelihoods for millions and contributing significantly to exports.

    UN Expert Warns of “Perfect Storm” Threatening Elections and Free Speech in Digital Age

    Drawing on a year-long consultation process with civil society, journalists, human rights defenders, electoral officials, and social media companies, Khan identified three intersecting trends that are accelerating the crisis.

    Govt Announces Model Rules for Felling of Trees in Agri Land

    Agroforestry, which integrates trees into farming systems, has been consistently championed by the government as a multi-faceted solution to national priorities. These include doubling farmers' income, increasing tree cover outside traditional forest areas, mitigating climate change, reducing timber imports, and ensuring sustainable land management.
    - Advertisement -

    Government considering ₹100-crore Proposal for Integrated Aqua Park in J&K

    The Union Minister highlighted the Government of India’s steadfast commitment to the growth of Jammu and Kashmir’s livestock and fisheries sectors as engines of rural income and nutritional security.

    IFRC Calls for Increased International Support as Afghans Move from Iran

    At the border, families endure sweltering temperatures often topping 40°C, armed with the few belongings they could manage to pack. They find shade under blankets, while signs of malnutrition are evident in children, and many mothers appear worn down and anxious.

    Must read

    India: ‘National Biobank’ and India’s Longitudinal Population Data Study at CSIR-IGIB Kick Off

    Drawing inspiration from the UK Biobank model, the Indian version of the biobank is tailored to capture the country’s unique diversity – across geography, ethnicity, and socio-economic backgrounds.

    Afghan Carpet Industry Seeks Government Support Amid Growth and Challenges

    The Afghan carpet industry is a significant part of the country's economy and cultural heritage, providing livelihoods for millions and contributing significantly to exports.
    - Advertisement -

    More from the sectionRELATED
    Recommended to you