The government will implement its post-disaster economic recovery plan in consultation with the International Monetary Fund (IMF), an official said yesterday.
Authorities are currently assessing the exact economic losses caused by Cyclone Ditwah. Preliminary estimates suggest that the recent disasters—including riverine floods, general flooding, landslides, and earth-slips—have resulted in losses of approximately US $6–7 billion.
When asked whether the current IMF programme would be renegotiated in light of the disasters, the official said that all actions are being coordinated with the IMF. Regarding the ability to meet existing IMF macroeconomic targets, he added, “It is too early to say.” However, he confirmed that there will be no new budget for 2026, as outlined by President Anura Kumara Dissanayake.
Mr. Evan Papageorgiou, IMF Mission Chief for Sri Lanka, stated that Sri Lankan authorities have requested financial assistance under the Rapid Financing Instrument (RFI) for SDR 150.5 million (approximately 26 percent of quota or about US $200 million). This request is under consideration and subject to approval by the IMF’s Executive Board.
Papageorgiou added that the IMF remains closely engaged with Sri Lankan authorities during this challenging period and is committed to supporting the country in its urgent efforts to recover, rebuild, and strengthen resilience for the future.
