LNP – SL receives US$ 780 million in SDR from IMF
Sri Lanka received US$ 780 million Special Drawing Rights (SDR) from the International Monetary Fund (IMF), an official said.
The IMF allocated SDRs of US$ 650 million to the member states in proportion to the share of each of them on August 23. The IMF started allocating of these funds to the accounts of each country.
Finance Ministry Secretary S. R. Attygalle confirmed that the Central Bank received the share of Sri Lanka roughly amounting to US$ 780 million.
The IMF says the SDRs are primarily meant to augment reserves, but the member states can use them for health and social needs where needed. In the region, India received US$ 17.8 billion and Bangladesh US$ 1.5 billion.
SDRs are international reserve assets created by the IMF to supplement the official reserves of member countries.
One thought on “LNP – SL receives US$ 780 million in SDR from IMF”
Most of this money will be spent for for politicians salaries and upkeep.