Press briefing of Cabinet Decision taken on 2023-03-20

Securing the Extended Fund Facility Arrangement during 2023 - 2026 from the International Monetary Fund

- Sri Lanka has entered into a Staff Level Agreement on 2022‑09‑01 to obtain a loan facility of US$ equivalent 2.3 billion of SDR for a 48 months arrangement under the Extended Fund Facility to support Sri Lanka's economic policies with a view to ensuring the macroeconomic stability and debt sustainability, safeguarding financial stability, protecting the vulnerable communities, stepping up structural reforms, curbing corruption, and unlocking Sri Lanka's growth potentialities. Accordingly, the proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to enter into the relevant Agreements to obtain the said Extended Fund Facility of the International Monetary Fund for budget financing during 2023‑2026, was approved by the Cabinet.