Press briefing of Cabinet Decision taken on 2023-04-17

Obtaining the approval of Parliament for the Extended Fund Facility Arrangement of the International Monetary Fund

- The Executive Board of the International Monetary Fund has approved a 48 - month Extended Fund Facility arrangement for Sri Lanka with an amount of SDR 2.29 billion (approximately US$ 03 billion) on 2023‑03‑22 and the Ministry of Finance, Economic Stabilization and National Policies has issued a Promissory Note in that regard. The said Fund Facility and other relevant documents have been tabled in Parliament on 2023‑03‑22 and the approval of Parliament have to be obtained to ascertain the stance of Members of Parliament regarding the said Facility and to incorporate the key policy actions pertaining to the said fund Facility into legislation. Accordingly, the proposal made by the President in his capacity as Minister of Finance, Economic Stabilization and National Policies to obtain the approval of Parliament for the Extended Fund Facility arrangement of the International Monetary Fund, was approved by the Cabinet.