Скачать или смотреть Sri Lanka's IMF Tranche $330Mn Approval Delayed to 14 December Amid Debt Restructuring Milestone

The International Monetary Fund (IMF) is expected to approve Sri Lanka's second tranche under the Extended Fund Facility on 14 December, following a delay from the initially projected date of 6 December. This delay is attributed to the successful negotiation between Sri Lanka and the Paris Club, finalizing an agreement to restructure the outstanding debt of $5.9 billion. The Finance Ministry, anticipating IMF approval, adjusted plans for President and Finance Minister Ranil Wickremesinghe to announce the breakthrough on 14 December, aligning with the IMF Executive Board's review after the third reading of the 2024 Budget. The recently achieved agreement in principle with the Official Creditor Committee, alongside a previous accord with China Eximbank, marks significant progress in Sri Lanka's external bilateral debt restructuring. The Finance Ministry now aims to focus on securing comparable agreements with external commercial creditors, especially international sovereign bondholders.