Sri Lanka and the International Monetary Fund information
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Sri Lanka is an island nation located in the Indian Ocean.
Sri Lanka joined the International Monetary Fund on August 29, 1950.[1] Since June 1965, Sri Lanka has taken 16 loans from the IMF, with a total value of 3,586,000,000 SDR's. The most recent of these loans was agreed to in June 2016, with an agreed total of 1,070,780 SDR's, and 715,230,000 SDR's being withdrawn. Of this total, 715,230,000 SDR's remain outstanding.[2] Notwithstanding the receipt of substantial soft loans from China, the island nation of Sri Lanka finds itself ensnared in a foreign currency crisis, prompting concerns among experts that it may be driven towards default. The current year places a heavy burden on Sri Lanka, with debt repayments amounting to approximately $4.5 billion, commencing with an initial payment of $500 million towards an international sovereign bond. It is worth noting that Sri Lanka holds a position of significant importance in China's ambitious Belt and Road Initiative.[3]
^"List of Members' Date of Entry". www.imf.org. Retrieved 2022-07-17.
^"History of Lending Commitments: Sri Lanka". www.imf.org. Retrieved 2022-07-17.
^"Crisis-hit Sri Lanka asks China to restructure its debt". BBC News. 2022-01-10. Retrieved 2023-07-31.
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