Sri Lanka received the first tranche of USD 330 million of the IMF Extended Fund Facility today, State Minister of Finance Ranjith Siyambalapitiya said today.
He told Parliament that the IMF had granted permission to transfer the IMF funds to the Treasury to be used for the requirement of the country whereas, on 16 previous occasions, IMF Funds could only be deposited in the Central Bank’s Dollar account.
“IMF has allowed the funds to be transferred to the account of the Deputy Secretary to the Treasury in rupees or Dollars soon after receiving the funds. During the 16 occasions in the past, IMF did not allow us to do so. We were only allowed to deposit the funds in the Central Bank's Dollar account. After discussions with the IMF, we were able to convince the IMF that we need to provide relief to poor and vulnerable groups initially. Due to the government's successful intervention, we managed to obtain the approval to use the IMF funds for the requirement of the country,” he said. (Ajith Siriwardana)
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