World Bank sets condition to offer Sri Lanka new financing

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The World Bank says until an adequate macroeconomic policy framework is in place, it does not plan to offer new financing to Sri Lanka.

Issuing a statement, it expressed concern for the people of Sri Lanka and said it is working in coordination with the IMF and other development partners in advising on appropriate policies to restore economic stability and broad-based growth. Until

“We are currently repurposing resources from previously approved projects to help the government with some essential medicines, temporary cash transfers for poor and vulnerable households, school meals for children of vulnerable families, and support for farmers and small businesses.”