Current status of funding arrangement

The stand-by facility of US$ 1.9 billion which has been sought by the Central Bank of Sri Lanka from the IMF, has now reached an advanced level of finalization. Agreement has been reached with the IMF Staff and the facility is due to be submitted to the Board for its approval shortly.

In the meantime, the negotiations in relation to the procurement of a facility of US$ 500 million by the Government from Libya, has also reached an advanced stage. This long-term loan is expected to be disbursed within the next few weeks.