Sri Lanka expects up to $8 billion more in loans, asset restructuring next year

Published: Updated:
Read Mode
100% Font Size
1 min read

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.

For all the latest headlines follow our Google News channel online or via the app.

"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.

Read more:

Sri Lanka ends resort blackouts to woo back tourists

Hundreds march in crisis-hit Sri Lanka protesting tax hikes, inflation, crackdowns

Sri Lanka starts building $700 million port project funded by India’s Adani

Top Content Trending