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IMF is giving Sri Lanka a loan of 2.9 billion dollars

IMF is giving Sri Lanka a loan of 2.9 billion dollars
IMF is giving Sri Lanka a loan of 2.9 billion dollars

The International Monetary Fund (IMF) has agreed to provide Sri Lanka with an initial loan of $2.9 billion to deal with the economic crisis. On Thursday (September 1) the International Credit Union.

The loan is being given under the extended credit facility for a period of four years, the IMF said.

In a statement, the IMF said the loan program is aimed at restoring Sri Lanka’s macroeconomic stability and debt repayment capacity.

The IMF has sought assurances of financing from Sri Lanka’s government lenders for this loan, while the agency will seek to reach a cooperation agreement with private lenders.

Sri Lanka is in the worst economic crisis since independence from Britain in 1948. The Corona pandemic, the inefficiency of the government in managing the national economy, the increase in the price of energy around the world and the foreign exchange reserves in the state treasury have fallen to the bottom have created a disastrous situation in Sri Lanka. In the face of the movement, Gotabaya Rajpaksha resigned as the President of Sri Lanka and left the country. The country’s 22 million people have been facing food, fuel and medicine shortages since last year.

Source: AFP

Bangladesh Time: 1510 hours, September 01, 2022

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The article is in Bengali

Tags: IMF giving Sri Lanka loan billion dollars

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