That process is making very good progress. Rajapaksa had started the IMF negotiations after refusing to tap the global lender for support.With assurances from creditors, the 2.9 billion dollar facility could get the IMF board approval in March, officials said.
Debt-ridden Sri Lanka on Wednesday thanked India for issuing the necessary guarantees sought by the IMF that would help Colombo to unlock the $2.9 billion bailout package. India’s ministry of finance recently issued a letter to the International Monetary Fund (IMF) to confirm its support to Sri Lanka on the issue of debt restructuring.
According to the data published by Census and Statistics Office, the overall inflation in Sri Lanka hit 29.8 per cent in April from 18.7 per cent recorded in March.