Reply To:
Name - Reply Comment
Last Updated : 2024-04-29 02:09:00
28 March 2023 04:56 am - 3 - {{hitsCtrl.values.hits}}
Sri Lanka is expecting to obtain around US $ 1.36 billion funds from major multilateral agencies, including the International Monetary Fund (IMF), World Bank and Asian Development Bank (ADB), this year.
“For the first year, you are going to get probably two tranches of the IMF programme, which is likely to be about US $ 660-670 million. The World Bank in the first year set provisions for US $ 600 million under three categories—direct budgetary support, social safety net and support for the financial system. The ADB will provide funding for social security and social safety net. There could be about close to US $ 1.3 billion,” former Central Bank Governor and senior economist Dr. Indrajith Coomaraswamy revealed.
Over the four-year period under the IMF programme, the country would have access up to US $ 7 billion in overall funding from the three agencies.
With the reverse graduation of Sri Lanka to a low-income country, Dr. Coomaraswamy noted that a fair share of US $ 600 million of the World Bank funding would come under concessionary terms (IDA terms).
In addition, he hinted that the country could see funds from China-backed Asian Infrastructure Investment Bank as well.
Sokrates Tuesday, 28 March 2023 08:18 AM
Keep borrowing and borrowing like there's no tomorrow. The payday for the next generation will come, but those in charge don't care because they won't see that payday anymore. Quickly loot today what you can still get without thinking about the future. Also from the greedy and inhuman dictatorship China will be borrowed again. Our "best friend" China, which charges the highest interest rates and has proved unwilling and inflexible in the IMF negotiations, is once again taking center stage as it pays the highest bribes. This is Ranil's great economic reform. Maybe he'll still be alive when this financial bubble bursts and the people lynch him on the street.
Jude Tuesday, 28 March 2023 09:00 AM
Loans loans more loans!! Huh, in 4 years time SL government gonna ask 20 year moratorium from IMF.
Jude Tuesday, 28 March 2023 09:18 AM
There's a theory some people are aware of, that is plus into plus is plus and minus into minus is PLUS. It really worked well for North America countries. For instance Canada has the highest in the world per capita debt as of 2021, this is a debt of 28,878 USD per person. For comparison, the average debt per person in the same year in the European Union was 33,695 USD. And that Theory aka OPM theory-Other People's Money!!
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
US authorities are currently reviewing the manifest of every cargo aboard MV
On March 26, a couple arriving from Thailand was arrested with 88 live animal
According to villagers from Naula-Moragolla out of 105 families 80 can afford
Is the situation in Sri Lanka so grim that locals harbour hope that they coul
26 Apr 2024
26 Apr 2024
