Sri Lanka and IMF reach preliminary deal on $2.9 billion loan
2022-09-02 09:14:38 source：CNBC
September 1, 2022
The International Monetary Fund has preliminarily agreed to extend a 48-month $2.9 billion loan to Sri Lanka to help restore economic stability to the crisis-hit South Asian country.
The loan will be made under the IMF's Extended Fund Facility, which helps countries deal with balance of payments or cash flow problems. It will only be disbursed after satisfactory debt restructuring, including debt relief arrangements have been struck between Sri Lankan authorities and the country's creditors.
The program also includes reforms for Sri Lanka to reduce corruption and increase financial transparency.
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