Multilateral aid: Govt expects $ 700 m IMF tranche on 27 May

The Sri Lankan Government is hopeful of receiving $ 700 million (m) from the International Monetary Fund (IMF) next Wednesday on 27 May, Deputy Minister of Finance and Planning Dr Anil Jayantha Fernando stated.

Speaking in Parliament on Thursday (21), the Deputy Minister said Sri Lanka is continuing efforts to strengthen foreign exchange inflows through exports, foreign remittances and international financial assistance.

He expressed confidence that the IMF Executive Board would approve the release of the next tranche amounting to $ 700 m later this month.

The Deputy Minister further stated that Sri Lanka could also obtain up to $ 480 m from the Asian Development Bank (ADB) during this year.

In addition, he said the country was expecting $ 150 m from the World Bank and another $ 50 m from an affiliated institution.

The Deputy Minister noted that the Government did not anticipate any major difficulties in managing the country’s foreign exchange situation.

Source: The morning