The staff of theIMF has reached an agreement to disburse the second installment of a credit facility amounting to $330 million, granted to Sri Lanka. This decision comes after a recent visit to Sri Lanka by IMF officials, during which they assessed the progress of the loan program.
The release of the second tranche of the loan had faced hurdles earlier when disagreements arose between the Sri Lankan government and the IMF regarding the fulfillment of conditions necessary for the disbursement of the second installment.
Speaking at a press conference following the review, Peter Brewer, the head of the Sri Lanka Mission of the International Monetary Fund, emphasized that the release of the second tranche is contingent on the agreement between Sri Lanka, the countries indebted, and the policy matters Sri Lanka has committed to in cooperation with the IMF.
