By: Isuru Parakrama
Colombo (LNW): The Executive Board of the International Monetary Fund (IMF) is set to meet with the Sri Lankan authorities today (20) to discuss the US $2.9 billion bailout package proposed for treating the recession suffered by Sri Lanka.
Accordingly, the IMF Board will hold a meeting for the consideration of the approval for an Extended Fund Facility (EFF) amounting to US $2.9 billion, weeks after IMF Executive Director Kristalina Georgieva assured that the Sri Lankan authorities have made progress in taking decisive policy action and have obtained financing assurances from all their major creditors, including China, India, Japan and the Paris Club.
Sri Lanka is currently suffering from its worst economic crisis since independence and sought the assistance of the IMF in 2022 under the Gotabaya Rajapaksa regime.
