Govt to get US $50M IMF – linked policy loan from OPEC Fund
- 5opn1
- December 10, 2024
- Political
- Govt to get US $50M IMF - linked policy loan from OPEC Fund
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The OPEC Fund for International Corporation is to provide a US $50 million policy based loan to Sri Lanka, according to a statement by the Department of Government Information
Sri Lanka’s cabinet has approved signing an agreement for this loan facilty from the OPEC Fund. It is linked to financing coming in parallel with the Extended Fund Facility of the International Monetary Fund, the statement said
Sri Lanka has so far received policy-based loans linked to the IMF program from the World Bank and Asian Development Bank.
Japan, which used to co-finance IMF programs after previous currency crises, could not give new loans until a bilateral debt restructuring is completed.
