IMF set to consider final approval of Lanka loan

COLOMBO: The IMF board is set to meet on March 20 for the possible approval of the USD 2.9 billion bailouts for debt-ridden Sri Lanka, a statement said on Tuesday. “Sri Lanka has now received financing assurances from all major bilateral creditors. This paves the way for consideration by the IMF’s board on March 20 for the approval of the Staff Level Agreement reached on September 1, 2022, for financing under an Extended Fund Facility.”