Exclusive: Sri Lanka expects up to $8 billion more in loans, asset restructuring
(Reuters / Dinuka Liyanawatte)
Sri Lanka is expecting loans of up to $5 billion next year from multilateral agencies besides a deal with the IMF, the foreign minister told Reuters, adding that the government could raise up to $3 billion through the restructuring of state assets.
“Apart from what we get from the IMF, we are looking at all others, the multilaterals put together another $4-$5 billion …,” Ali Sabry said in an interview on Wednesday.
“The president is interested in restructuring some of the (state) institutions, so through that if we can raise $2-$3 billion, our treasury and reserves become strengthened.”
Struggling with its worst economic crisis in more than seven decades, Sri Lanka reached an IMF staff-level agreement in September for a loan of $2.9 billion, which could be approved for disbursal next year.
(Reuters)
Latest Headlines in Sri Lanka
- PUCSL warns CEB: Submit tariff plan by December 6, 2024 or face action November 25, 2024
- ADB approves $200 million to modernize Sri Lanka’s power sector November 25, 2024
- Over 120,000 tourists arrive in Sri Lanka in first 20 days of November 2024 November 25, 2024
- Court orders release of Sujeewa Senasinghe’s SUV on Rs. 100 million bond November 25, 2024
- IMF backs Sri Lanka’s plan to boost revenue with vehicle imports November 25, 2024
