COLOMBO, Mar 20 (NNN-XINHUA) – Sri Lankan central bank governor, Nandalal Weerasinghe, told media yesterday that, the country’s “dollar crisis” is over, as the International Monetary Fund (IMF), is set to approve a 2.9-billion-U.S. dollar bailout package for the country, today.
He said, Sri Lanka will hence has adequate foreign reserves for imports of essential sectors, adding that, the IMF package will boost investor sentiment and enhance the country’s access to more foreign funds and investments.
The IMF package will include budgetary support to Sri Lanka’s government, which is a new element in IMF lending, he said.
Sri Lanka started the related negotiations with the international lender in 2022, after the country was hit by a severe economic crisis.– NNN-XINHUA
