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97,829 published reviews
Fact Crescendo Sri LankaEconomy & business

One third of the money Sri Lanka borrowed from the IMF has been stolen.

Publisher’s rating: False

The review says the claim confuses fraudulent import-advance payments with IMF disbursements: close to US$1 billion was moved abroad through fraudulent import payments, but that money was not IMF funding. It explains that the sum was described as equivalent to roughly a third of the IMF loan, and concludes that no IMF loan funds were stolen. [S1: “The reports said roughly US$1 billion taken out since 2023 was equivalent to about a third of the IMF loan, not that any part of the IMF loan itself was stolen.”] [S1: “No IMF loan funds have been stolen.”]

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