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The representative of this constituency on the IMF executive board is Surjit Singh Bhalla. This constituency has 3.05% of the total voting power of the IMF. Individually, Sri Lanka has 7,247 total votes, or .15% [clarification needed] of the total voting power of the IMF. [4] Sri Lanka's current IMF quota is 578.6 million SDR's. [5]
The IMF bailout secured in March last year helped stabilise economic conditions after cash-strapped Sri Lanka plunged into its worst financial crisis in more than seven decades in 2022.
COLOMBO (Reuters) -The International Monetary Fund and Sri Lanka have reached a staff-level agreement on economic policies to conclude the second review of a four-year bailout programme, the ...
Sri Lanka's year-on-year economic expansion in the third quarter of 2023 was 1.6% and in the fourth quarter 4.5%, the IMF said. Sri Lanka plunged into its worst economic crisis in early 2022 ...
The International Monetary Fund executive board approved the release of the second tranche of a $2.9 billion dollar bailout package to help Sri Lanka recover from the worst economic crisis in its ...
2 March 2022 – The IMF releases a statement following a review of the 2021 Article IV reports saying publicly for the first time that the lender had found Sri Lanka's debt to be unsustainable. [17] 25 March 2022 – The complete IMF staff report which had been blocked by Sri Lanka authorities is released after permission is given. [18]
Sri Lanka has so far failed to make enough progress in boosting tax collection and other economic reforms for the International Monetary Fund to release a second tranche of $330 million in the ...
The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]