Central Bank negotiating with IMF for SBA: Amunugama-Updated

Jan 21, 2015 (LBO) - The Central Bank is negotiating with the IMF for a one billion dollar stand-by arrangement, Special Assignments Minister Sarath Amunugama said at an SLFP media briefing, according to a media report.

Amunugama said discussions were ongoing and the first tranche of the SBA could come in by late February or early March.




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However when asked, Minister Amunugama told LBO that the arrangement has not been finalized yet. “An IMF team is coming here in March not only to have discussions about a stand-by arrangement but also to discuss about the economy,” Amunugama said.







“We are thinking about whether we have to go ahead with the 1 billion US dollars worth SBA.

The newspaper report is wrong. Nothing has been finalized yet; not even the letter has been sent,” he further stated.









In Davos, Prime Minister Ranil Wickremesinghe said an appropriate arrangement would be entered into with the IMF if necessary.