US$ 1.98 loan: IMF officials arrive

(March 23, Colombo, Sri Lanka Guardian) A special delegation of the International Monetary Fund will arrive in the island today to reach a final agreement on granting a loan to Sri Lanka.“The government has requested a loan of US$ 1.9 billion from the IMF and a final consensus will be reached by the end of the week,” said Ranjith Siyambalapitiya, Minister of State Revenue and Finance.

He added that Sri Lanka was a member of the IMF and as such it was a common practice for a country to request for funds in times of economic depression and hardship.

“I would like to stress that all the funds that his government has obtained from whichever institution so far has been obtained for the sole purpose of furthering the Mahinda Chinthanaya. At this instance also, I would like to reiterate that this amount has been requested for the development of the country, which comes under the purview of the Mahinda Chinthanaya,” he said.
-Sri Lanka Guardian