Sri Lanka is set to receive a substantial injection of US$ 780 million this month following the successful execution of a comprehensive domestic and foreign debt restructuring program, a senior spokesperson of the Ministry of Finance said.
The creditors have unanimously concurred with the domestic and foreign debt restructuring program. Foreign and private creditors have shown solidarity by offering Sri Lanka a grace period for loans. As per the sources of Ministry of Finance, the decision includes an extension of the loan and interest payment period, coupled with a reduction in loan interest rates.
Under this arrangement, the International Monetary Fund (IMF) is poised to release the second tranche of US$ 330 million to Sri Lanka within the next two weeks. The World Bank is set to disburse US$ 250 million based on established agreements, while the Asian Development Bank (ADB) is contributing an additional US$ 200 million. As per the Ministry of Finance, Sri Lanka is slated to receive a total of US$ 780 million or Rs.257 billion by the end of this month.
President Ranil Wickremesinghe has been instrumental in steering these efforts, with Chief of Staff Sagala Ratnayake leading the coordination between the IMF, the ADB, the World Bank, and local authorities, including Finance State Ministers Shehan Semasinghe and Ranjith Siyambalapitiya, and officials of the Ministry of Finance and the Central Bank of Sri Lanka.
