USD 121 Million paid to India from first tranche of IMF loan received to Sri Lanka

India Sri Lanka flags

USD 121 million out of USD 333 million, the first tranche that was extended to Sri Lanka by the International Monetary Fund (IMF), was used to pay the instalment of the Indian credit line yesterday (March 24), State Minister of Finance Ranjith Siyambalapitiya said.

“Usually the loans given by the IMF are credited to the Central Bank account.  But this time, the relevant loan amount has been credited to the account by the Treasury Deputy Secretary. Therefore it can be used for debt stabilisation,” Minister said.

On March 20, 2023 the IMF Board approved a 48-month extended arrangement under the Extended Fund Facility (EFF) of SDR 2.286 billion (about USD 3 billion) to support Sri Lanka’s economic policies and reforms.