
The International Monetary Fund (IMF) has announced that its Executive Board meeting on Sri Lanka is expected to take place in the coming months. This follows the implementation of prior actions by Sri Lankan authorities.
Julie Kozack, Director of the IMF Communications Department, shared this information during a press conference in Washington, DC, in response to a question by Zulfick Farzan from News 1st.
On 23rd of November 2024, IMF staff and Sri Lankan authorities reached a staff-level agreement on economic policies to conclude the third review of Sri Lanka’s economic reform program under the Extended Fund Facility (EFF). Once approved by IMF Management and the Executive Board, this review will unlock approximately $333 million in financing for Sri Lanka.
The IMF’s Executive Board will decide on the review’s completion based on two factors: (i) the authorities’ implementation of prior actions and (ii) the completion of the financing assurances review, which involves verifying multilateral partners’ financial contributions and evaluating progress on debt restructuring.