IMF Monitoring NDB Fraud, Engages with Central Bank

The International Monetary Fund (IMF) is closely monitoring the internal fraud reported at the National Development Bank (NDB), according to IMF Mission Chief Evan Papageorgiou.

He stated that the IMF is currently in discussions with the Central Bank of Sri Lanka regarding the incident.

Papageorgiou noted that the fraud, estimated at around Rs. 13.2 billion, is expected to be subject to an internal investigation.

He made these remarks in response to a journalist’s query during a press briefing held at the Central Bank following the conclusion of the fifth and sixth reviews under Sri Lanka’s Extended Fund Facility programme.