Sri Lanka Secures Debt Deal for IMF Tranche

On 29th November, 2023, Sri Lanka reached an "agreement in principle" with India and the Paris Club, including Japan, paving the way for accessing the next tranche of the nearly-$3 billion International Monetary Fund (IMF) recovery package.

  • The Official Creditor Committee (OCC) and Sri Lanka have agreed on the main parameters of a debt treatment aligned with the Extended Fund Facility (EFF) arrangement with the IMF.
  • Last year, during a severe economic crisis, Sri Lanka defaulted on its nearly $51 billion foreign debt, necessitating a comprehensive restructuring to initiate an IMF-backed economic recovery program.
  • The OCC, formed in May ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Buy January 2024 Issue

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Related Content

World Watch