{"id":233479,"date":"2023-03-22T19:09:41","date_gmt":"2023-03-22T13:39:41","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=233479"},"modified":"2023-03-22T19:09:41","modified_gmt":"2023-03-22T13:39:41","slug":"imf-announces-3-b-credit-facility-to-revive-lankas-economy","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/imf-announces-3-b-credit-facility-to-revive-lankas-economy\/","title":{"rendered":"IMF announces $3-b credit facility to revive Lanka\u2019s economy"},"content":{"rendered":"\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">The post is based on the article <\/span><b>\u201cIMF announces $3-b credit facility to revive Lanka\u2019s economy\u201d <\/b><span style=\"font-weight: 400;\">published in <\/span><b>Indian Express <\/b>on <b>22nd March 2023<\/b><\/p>\n<h2><b>What is the News?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The International Monetary Fund(IMF) has cleared a $3-billion-Extended Fund Facility (EFF) for Sri Lanka.<\/span><\/p>\n<h2><b>What is an Extended Fund Facility(EFF)?<\/b><\/h2>\n<p><b>Setup by: <\/b><span style=\"font-weight: 400;\">International Monetary Fund(IMF)\u00a0<\/span><\/p>\n<p><b>Purpose:<\/b> <span style=\"font-weight: 400;\">Provide assistance to countries experiencing serious payment imbalances because of structural impediments or slow growth and an inherently weak balance-of-payments position.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u2013 To support comprehensive programs with a focus on policies needed to correct structural imbalances over an extended period.<\/span><\/p>\n<h2><b>Why has the IMF provided a $3-billion<\/b><b> Extended Fund Facility(EFF) to Sri Lanka?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The EFF-supported program aims to <strong>1)<\/strong> restore Sri Lanka\u2019s macroeconomic stability and debt sustainability, <strong>2)<\/strong> mitigate the economic impact on the poor and vulnerable, <strong>3)<\/strong> safeguard financial sector stability and <strong>4)<\/strong> strengthen governance and growth potential.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sri Lanka\u2019s top three bilateral creditors India, Japan [as a member of the <\/span><a href=\"https:\/\/forumias.com\/blog\/paris-club-proposes-10-year-moratorium-on-sri-lankan-debt\/\"><span style=\"font-weight: 400;\">Paris Club<\/span><\/a><span style=\"font-weight: 400;\"> group of creditors] and China have played a crucial role in unlocking IMF assistance to the island, by providing financing assurances to the Fund.<\/span><\/p>\n<h2><b>What is the economic crisis Sri Lanka is facing?<\/b><\/h2>\n<p><a href=\"https:\/\/forumias.com\/blog\/economic-crisis-in-sri-lanka\/\"><b>Click Here to read<\/b><b><br \/>\n<\/b><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article \u201cIMF announces $3-b credit facility to revive Lanka\u2019s economy\u201d published in Indian Express on 22nd March 2023 What is the News? The International Monetary Fund(IMF) has cleared a $3-billion-Extended Fund Facility (EFF) for Sri Lanka. What is an Extended Fund Facility(EFF)? Setup by: International Monetary Fund(IMF)\u00a0 Purpose:&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/imf-announces-3-b-credit-facility-to-revive-lankas-economy\/\">Continue reading <span class=\"screen-reader-text\">IMF announces $3-b credit facility to revive Lanka\u2019s economy<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,164,9],"tags":[10500],"class_list":["post-233479","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-international-relations-daily-factly-articles","category-public","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700773617,"cached_date":1701732291},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/233479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=233479"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/233479\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=233479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=233479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=233479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}