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IMF to visit Sri Lanka next week

International Monetary Fund (IMF) officials are to visit Sri Lanka on February 15 to discuss granting the fifth tranche of the US$ 1.5 billion loan. 

The granting of the tranche was postponed last year following weeks of political crisis after the president sacked the prime minister and dissolved parliament. 

The IMD disbursed US $1 billion of the $ 1.5 billion three year EFF loan that was agreed in 2016. 

In the wake of Sri Lanka’s political turmoil, several major international agencies downgraded the government’s credit rating, in what was seen as a blow to the island’s economy.