March 21 (Reuters) - Sri Lanka will receive the first
tranche of about $330 million from the International Monetary
Fund in the next two days, and, going forward, disbursements
would be tied to reviews that take place every six months, an
IMF official said on Tuesday.
Peter Breuer, Senior Mission Chief for Sri Lanka, Asia and
Pacific Department at IMF, said debt sustainability is one of
the key criteria for the IMF to approve a bailout for any
economy, and though debt in Sri Lanka is not yet sustainable, it
is expected to be on a forward-looking basis.
The IMF on Monday said its executive board approved a nearly
$3 billion bailout for Sri Lanka, and the country's presidency
said the program will enable it to access up to $7 billion in
overall funding.
(Reporting by Uditha Jayasinghe and Swati Bhat; Editing by
Muralikumar Anantharaman)
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