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IMF, Sri Lanka strike staff-level pact on funding of $345 million
The International Monetary Fund said it reached a staff-level agreement with Sri Lanka on the seventh review under its Extended Fund Facility to unlock financing of about $345 million. The island nation, backed by a $2.9-billion programme, is clawing its way out of a 2022 economic upheaval triggered by a severe shortage of dollars. The staff-level deal needs approval from the IMF executive board and hinges on the 2027 budget to be unveiled next month in parliament, in line with programme provisions and completion of a review of financing assurances. The review will confirm multilateral partner...
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