IMF says US$3 billion Sri Lanka loan will protect poorest

SRI Lanka’s roughly US$3 billion (RM13.42 billion) loan agreement with the International Monetary Fund (IMF) will look to protect the poorest while tackling deep-rooted economic issues, a senior IMF official told AFP yesterday.

The “progressive” agreement will be disbursed more or less evenly over four years and look to ensure “those who can pay actually pay more, and those who need protection are protected”, the Director of the IMF Asia and Pacific Department, Krishna Srinivasan, said in an interview.