Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary agreement on an emergency loan and a formal announcement will be made tomorrow (September 1st), Reuters reported.
The Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe also said yesterday that Sri Lanka has made “good progress” in the negotiations with the International Monetary Fund (IMF), which are aimed at clinching a bailout package.
“I can announce that we have made good progress in the negotiations with the IMF. Hopefully, we will be able to reach the first milestone, a staff-level agreement with the IMF soon,” the central bank chief told reporters in Colombo. “Once we reach that agreement with the IMF, it means that we have a credible program in our hands.”