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How Far Away Is Sri Lanka From an IMF Disbursement?
Sri Lanka received a staff level agreement for its IMF program last fall. But board approval has been pending with what they call an IMF speak financing assurances, which effectively means promises from key bilateral and official sector creditors that they will restructure Sri Lanka's debt in line with IMF program targets. India and China have also sent a letter to the authorities promising a two year debt moratorium while they agree the restructuring terms.