{"id":98704,"date":"2022-09-02T18:19:12","date_gmt":"2022-09-02T18:19:12","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=98704"},"modified":"2022-09-02T18:29:28","modified_gmt":"2022-09-02T18:29:28","slug":"crisis-hit-sri-lanka-strikes-staff-level-pact-with-imf-on-loan","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/crisis-hit-sri-lanka-strikes-staff-level-pact-with-imf-on-loan\/","title":{"rendered":"Crisis-hit Sri Lanka strikes staff-level pact with IMF on loan"},"content":{"rendered":"<header class=\"inner-h\">\n<h2 class=\"innerheader\" style=\"text-align: center;\"><span style=\"font-size: 24px; color: #000000;\">Crisis-hit Sri Lanka strikes staff-level pact with IMF on loan<\/span><\/h2>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-98705\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/09\/Sri-Lanka-and-the-International-Monetary-Fund-e1662136929916.jpg\" alt=\"Sri Lanka and the International Monetary Fund\" width=\"600\" height=\"338\" \/><\/p>\n<p><strong><span style=\"font-size: 16px; color: #800080;\">Source:<\/span><\/strong><a style=\"color: #000000;\" href=\"https:\/\/www.dailymirror.lk\/latest_news\/Crisis-hit-Sri-Lanka-strikes-staff-level-pact-with-IMF-on-loan\/342-244064\" target=\"_blank\" rel=\"noopener noreferrer\">Dailymirror<\/a><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary agreement on an emergency loan to the crisis-hit country and a formal announcement will be made on Thursday, four sources with direct knowledge of the matter said.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The island nation, struggling with its worst economic crisis in more than seven decades, had sought up to $3 billion from the IMF.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Spokespersons for the IMF and the Sri Lankan government did not immediately respond to requests for comment.<\/span><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Staff-level agreements are typically subject to the approval of the IMF management and its executive board, after which the recipient nations get access to funds.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">A visiting IMF team held talks with Sri Lankan government officials, including the treasury secretary, late into the night on Tuesday to address concerns on the political front, the sources said. Most of the technical details had been agreed to beforehand.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The country of 22 million was plunged into political crisis last month when then president Gotabaya Rajapaksa fled after a popular uprising against an acute shortage of basic goods and sky-high prices.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Rajapaksa was replaced by six-time prime minister Ranil Wickremesinghe, who also heads the finance department and held several rounds of talks with the IMF team.\u00a0<strong>(Reuters)<\/strong><\/span><\/p>\n<\/header>\n","protected":false},"excerpt":{"rendered":"<p>Crisis-hit Sri Lanka strikes staff-level pact with IMF on loan Source:Dailymirror Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary agreement on an emergency loan to the crisis-hit country and a formal announcement will be made on Thursday, four sources with direct knowledge of the matter said. The island nation, struggling with [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":98705,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[20],"tags":[4743,494],"class_list":{"0":"post-98704","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-articles","8":"tag-ranil-wickremesinghe","9":"tag-sri-lankan-government","10":"post_format-post-format-aside"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crisis-hit Sri Lanka strikes staff-level pact with IMF on loan<\/title>\n<meta name=\"description\" content=\"Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary agreement on an emergency loan to the crisis\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, 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