ECONOMYNEXT – Sri Lanka will have pay around 3.275 percent plus and some surcharges for the 206 million dollar Rapid Finance Instrument loan, Evan Papageorgiou, IMF Mission Chief for Sri Lanka said. There have been concerns raised in Sri Lanka that the RFI loan is too expensive compared to other commercial borrowings. The Rapid Finance Instrument, which was approved on December 19 has a three and a quarter year grace period and is repayable up to five years after that, Papageorgiou said. “The basic rate of charge right now, by the way, that’s determined weekly, but right now, for the…
Sri Lanka to get 3-year grace for $206mn emergency IMF loan, base rate 3.27-pct
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