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Sri Lanka Receives first Tranche of International Monetary Fund

Published on March 22, 2023
Current context: Sri Lanka as received the first tranche of an IMF bailout programme. Sri Lanka, a crisis-ridden island nation received a $330 million tranche which is the first part of the total of$3 billion.
Sri Lanka Receives first Tranche of International Monetary Fund
  • The IMF will also seek additional support to the tune of $3.75 billion from the World Bank, the Asian Development Bank and others.
  • Sri Lanka will rework with an important part of its $84 billion worth of debt provided by the International Monetary Fund.
  • Sri Lanka will engage in bilateral and private creditors to recover debt sustainability .
  • This was the 17th IMF bailout for Sri Lanka and the third after the war.
  • The impact of the COVID-19 pandemic and economic mismanagement left Sri Lanka severely short of dollars for essential imports at the beginning of last year leading the nation into its worst financial crisis in seven decades.

Question:

Q.1 Sri Lanka receives first tranche of International monetary fund. This was the_____ IMF bailout for Sri Lanka
a. 17th
b. 13th
c. 14th
d. 15th
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