Sri Lanka requests rapid financial support from IMF

<p>Sri Lanka has issued a request for rapid financial support from the International Monetary Fund (IMF) following growing economic concern as the country responds to the coronavirus pandemic.</p> <p>The IMF has issued approximately 18 billion USD to support developing countries to support their economies. Fifty countries, including Sri Lanka are to be assessed for receiving this rapid financial facility and a further fifty country have been granted approval. &nbsp;</p> <p>Gerry Rice, a spokesman for the IMF’s executive board, has stated that the aid provided will not come with the usual conditionality. Furthermore, the fund aims to ensure transparency and prevent corruption so as to enhanced reporting of crisis-related spending and undertake audits.</p> <p>Read more from <a href="http://www.sundaytimes.lk/200510/news/imf-considers-lankas-request-for-…">the Sunday Times</a></p>