US welcomes IMF’s US$ 337 mn second tranche approval

US Ambassador in Colombo Julie Chung yesterday welcomed the announcement of the International Monetary Fund that the first Extended Fund Facility review with Sri Lanka has been completed, granting the country access to about US$ 337 million.

“We welcome the positive news from the IMF Board about the completion of the first Extended Fund Facility review with Sri Lanka, providing access to about $337 million for Sri Lanka to use to support its economic reforms and policies,” the Ambassador said.

She said that this step for Sri Lanka emphasized the continued importance of sustained reforms and improved governance for the country’s progress, while safeguarding the most vulnerable.

“The United States will continue to support Sri Lanka’s path to economic stability and prosperity,”she said.

Meanwhile the UK High Commission in Colombo while welcoming the IMF Executive Board’s decision yesterday said the UK will continue to work with other creditors and the Sri Lankan government to restore macroeconomic stability, debt sustainability and an economic recovery underpinned by reform, growth and development for the people of Sri Lanka.

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