Ravi K confident of receiving third tranche of IMF facility in June

Wednesday, 29 March 2017 00:00 - - {{hitsCtrl.values.hits}}

Finance Minister Ravi Karunanayake yesterday promised that the third tranche of the International Monetary Fund’s (IMF) $ 1.5 billion Extended Fund Facility (EFF) would be successfully completed in June.

IMF has released two tranches of $ 168 million each amounting to $ 336 million so far and the third tranche of $ 168 million is due in June under the three-year EFF program.

“As for the IMF, it was a very successful discussion that we had. The fiscal performance has been excellent and they have commented upon that. On the monetary areas, there are certain questions that they like us to fine-tune and that’s going on. I’m sure the next tranche, which has to be assessed in June, will be very successfully completed,” he told journalists in Colombo yesterday.

“From the economy we inherited, today we have managed to bring fiscal consolidation, financial discipline, and through that process you can see that Sri Lanka is being looked at from a different perspective than from what it was,” he explained.