ECONOMYNEXT – Sri Lanka is expecting 1,363 million US dollars under an International Monetary Fund program which is also backed by the Asian Development Bank in 2025, Minister Bandula Gunawardana said.
From the International Monetary Fund 663 million dollars is expected, he said at a post cabinet briefing Tuesday. Typically there are two reviews in each year under the program.
Another 400 million dollars is expected from World Bank for the budget in 2025 and 300 million dollars from the Asian Development Bank, he said.
In addition, debt relief of 3,655 million US dollars is expected, he said.
This adds up to fill an external resource gap calculated as 5,018 million US dollars Minister Gunawardana said.
Sri Lanka however is also expected to collect foreign reserves under the IMF deal.
In the Board approved program that runs up to March 2025, about 250 million dollars in foreign reserves have to be collected under a net international reserve target for the first quarter.
Year-end gross international reserves were projected 1,569 million dollars higher. (Colombo/Aug27/2024)