Sri Lanka's new government will get relief package, IMF's approval for the fourth installment

Colombo: The way has been cleared for the new NPP government of Sri Lanka to get the fourth installment of the relief package of about three billion dollars from the IMF. The International Monetary Fund (IMF) on Saturday approved the staff-level agreement for the fourth tranche of the relief package.

The international financial body issued a statement at the end of the third review. In which it was said that after the IMF management approves the review and the IMF Executive Board completes it, Sri Lanka will get approximately US $ 333 million.

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The previous Ranil Wickremesinghe government had signed an agreement with the IMF for a bailout package in March 2023 should Sri Lanka be hit by an economic crisis in 2023. Wickremasinghe was defeated in the presidential elections that followed. Current President Anura Kumara Dissanayake was critical of the relief package, although he promised to continue it after coming to power.

The IMF said the new government's commitment to the program's objectives had enhanced confidence and ensured policy continuity. The IMF stressed that Sri Lanka's reform agenda is showing results.

Got majority in the presidential elections held on 15 November

Let us tell you that Anura Kumara Dissanayake had won the presidential election held on September 21 in Sri Lanka. But he failed to get more than 50 percent of the votes. After which Dissanayake was advocating for a stronger Parliament to implement his anti-corruption accountability reform programme. After this, Dissanayake's NPP party got a majority in the parliamentary elections held on 15 November.