IMF bailout package: president to inform House on March 21

The International Monetary Fund (IMF) will announce its decision with regard to the USD 2.9 billion bailout package for Sri Lanka following a meeting of its executive board on March 20, said state minister of finance Ranjith Siyambalapitiya.

The official announcement will come at a media briefing on the following day, at 8.00 am Sri Lanka time on March 21, to which Sri Lanka too, will join in via Zoom technology, he said.

Senior officials Peter Brewer and Masahiro Nozaki will address the media on behalf of the IMF.

Sri Lanka will receive the credit facility from March 22 in eight instalments, said Siyambalapitiya.

The agreement with the IMF will be placed before parliament by president Ranil Wickremesinghe as the finance minister, he also said.

His speech to the House will come on March 21, government sources said.