Sri Lanka is working towards establishing a staff-level agreement with the International Monetary Fund (IMF) by Thursday, September 9, as announced by President Anura Kumara Dissanayake. This agreement has the potential to secure approximately $700 million in financial assistance for the country.

In his address to Parliament on September 7, the President indicated that discussions with the visiting IMF delegation have been fruitful and are currently ongoing. He emphasized the intention to finalize these negotiations domestically, which marks a shift from previous rounds that concluded abroad.

Dissanayake highlighted that achieving a successful agreement would allow for the simultaneous disbursement of both the fifth and sixth tranches of Sri Lanka’s IMF program, with the possibility of receiving these funds by the end of May.

Source: Financial Chronicle Biz English | Sri Lanka Business News.