IMF approves US $1.5 billion loan to Sri Lanka

Q.  On June 7 IMF has approved 1.5 billion US dollar loan to which country?
- Published on 09 Jun 16

a. India
b. Bangladesh
c. Sri Lanka
d. US

ANSWER: Sri Lanka
 
IMF on June 7th 2016 approved the US $1.5 billion loan to Sri Lanka. IMF has transferred 168 million US dollars as the first instalment with immediate effect to provide support for the country’s economy
  • IMF executive board accepted the 36 month extended arrangement under Extended Fund Facility with Sri Lanka under SDR
  • With an early disbursement of 168.1 million US dollars to be made immediately, the remaining amount will be settled in 6 instalments on quarterly review
  • Additional 650 million US dollars support will be brought to other multilateral and bilateral loans bring total support to US 2.2 billion US dollars

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