In a statement, Kristalina Georgieva said she looks forward to presenting the IMf-supported program to the organization’s Executive Board on March 20.

“The Extended Fund Facility (EFF) will support the authorities’ program of ambitious reforms, which will help Sri Lanka emerge from its current crisis and set it on a trajectory of strong and inclusive growth,” the IMF chief said further.

Sri Lanka has closed in on getting a sign-off on the long-awaited bailout package of USD 2.9 billion from the IMF upon receiving fresh financial assurances from China on restructuring the island’s debt.

Addressing the parliament this morning, President Ranil Wickremesinghe said a letter of agreement, signed by him as the finance minister and the Central Bank Governor Dr. Nandalal Weerasinghe, was forwarded to the IMF soon after receiving assurances from the Export-Import (EXIM) Bank of China last night.