WASHINGTON, March 20 (Reuters) - The International
Monetary Fund's executive board on Monday approved a $3 billion
four-year extended financing arrangement for Sri Lanka, paving
the way for immediate disbursement of about $333 million to the
cash-strapped country.
The IMF said the new Extended Fund Facility (EFF)
arrangement program aims to restore Sri Lanka’s macroeconomic
stability and debt sustainability, mitigate the economic impact
on the poor and vulnerable, safeguard financial sector
stability, and strengthen governance and growth potential.
It said the board's approval would catalyze financial
support from other development partners.
(Reporting by Andrea Shalal and David Lawder
Editing by Chris Reese)
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