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IMF extends funding programme by 1 year

The International Monetary Fund has agreed to extend its funding programme for Sri Lanka by a further year until June 2020. 

"On the substance of IMF help, we have a programme with Sri Lanka that is ongoing and indeed next week, our executive board would consider the request from the authorities to complete the fifth review under our programme," the IMF Communications Department Director, Gerry Rice, said. 

"I think this is an important issue, to extend that programme by one additional year which would mean until June 2020. And that extension again is to be approved by our board, discussed and approved. The extension will provide additional time to the authorities to anchor macroeconomic stability and complete their reform agenda."

The announcement comes amid concerns about Sri Lanka's economy following suicide bombings on Easter Sunday by Islamist extremists, which targetted luxury hotels and churches.