IMF waiting for Sri Lanka to do the needful - Staff-level deal only an ad-referendum

The International Monetary Fund (IMF) is waiting for Sri Lanka to comply with all the applicable IMF policies before further steps can be taken. In an emailed response to Daily Mirror, Peter Breuer, Senior Mission Chief for Sri Lanka and Masahiro Nozaki, Mission Chief for Sri Lanka, said that on 1st September the IMF reached a staff-level agreement (SLA) with Sri Lanka on a 48-month arrangement under the Extended Fund Facility of about US$2.9 billion.

Daily Ft

2022-10-07

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SriLankan loses Rs. 12.9 b in Q1

SriLankan Airlines recorded a Rs. 12.9 billion net loss in Q1 FY25, driven by cash flow challenges, legacy issues, and financial costs from past debt. ...

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SL pays $ 503 m for 1H debt servicing

By June 2024, Sri Lanka's external debt had reached $37.5 billion, with $8.19 billion in unpaid debt service accumulating since the April 2022 debt standstill on bilateral and commercial loans.

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Workers’ remittances decline in September

In September 2024, Sri Lanka’s remittances reached $556 million, tourism earnings were $181 million, and gross official reserves rose to $6 billion, covering 3.9 months of imports.

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