Sri Lanka’s agreement with IMF to continue for 4 years: central bank governor

Weerasinghe warned that unilateral withdrawal from the IMF-EFF agreement would have severe implications.

1 min read
Customers check out at a supermarket in Colombo, Sri Lanka, March 24, 2020.(Photo by Tang Lu/Xinhua)

Sri Lanka’s agreement with the International Monetary Fund (IMF) will continue for the coming four years irrespective of the government in power, said the central bank governor on Friday.

Addressing a press conference in Colombo, Governor of the Central Bank of Sri Lanka Nandalal Weerasinghe said the continuity of the Extended Fund Facility (EFF) agreement with the IMF is necessary to get the debt relief and international financial support required.

Weerasinghe warned that unilateral withdrawal from the IMF-EFF agreement would have severe implications.

In March this year, the IMF approved a 48-month extended arrangement under EFF of about 3 billion U.S. dollars to support Sri Lanka’s economic policies and reforms.

Xinhua News Agency

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