Sri Lanka expects final approval from the International Monetary Fund for a $2.9-billion loan in the third or fourth week of this month, the president said, adding that new support from China means all funding requirements had been met. | Reuters
He said the Export-Import Bank of China had sent “a new letter” on Monday, and he and the central bank governor had sent a letter of intent to the IMF.
It was not clear what new support China, the world’s biggest sovereign creditor, extended to Sri Lanka on Monday. In January, the Export-Import Bank of China offered Sri Lanka a two-year moratorium on its debt and said it would support its efforts to secure the IMF loan, which a Sri Lankan source said at the time was not enough to meet IMF conditions.
“Also, speculators who were hoarding dollars have started to panic and convert with the rupee starting to appreciate.”
Indonesia Berita Terbaru, Indonesia Berita utama
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