COLOMBO, March 20 – Sri Lanka’s central bank Governor Nandalal Weerasinghe told media on Sunday that the country’s “dollar crisis” is over as the International Monetary Fund (IMF) will approve a bailout package of 2.9 billion US dollars for the country on Monday. .
He said Sri Lanka will therefore have adequate foreign reserves for imports in essential sectors, adding that the IMF package will boost investor confidence and improve the country’s access to more foreign funds and investment.
The IMF package will include budget support to the Sri Lankan government, which is a new element in IMF lending, he said.
Sri Lanka started negotiations related to the international lender in 2022 after the South Asian country was hit by a severe economic crisis.
