COLOMBO, MARCH 21 (Xinhua/APP): Sri Lanka will receive the first tranche of the IMF Extended Fund Facility (EFF) within the next two days, IMF senior mission chief for Sri Lank Peter Breuer said on Tuesday.
Sri Lanka will immediately receive an initial disbursement of about 330 million U.S. dollars from the EFF arrangement, which is expected to catalyze new external financing including from the Asian Development Bank and the World Bank, he told a press conference.
Breuer said the reform program supported under the EFF arrangement is built on strong policy measures and prioritizes, including an ambitious revenue-based fiscal consolidation, restoration of public debt sustainability, policies to safeguard financial stability, and structural reforms to enhance growth.
Sri Lanka has already started implementing these challenging policy actions and it is now essential to continue the reform momentum under strong ownership by the authorities and the Sri Lankans more broadly, he said.
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