The Executive Board of the International Monetary Fund (IMF) is expected to convene in the coming weeks to consider approving the staff-level agreement reached with Sri Lankan authorities, IMF spokesperson Julie Kozack confirmed.
Speaking at a press conference in Washington, D.C., Kozack stated that board approval is conditional upon Sri Lanka implementing key prior actions. These include restoring electricity cost-recovery pricing and ensuring the automatic electricity price adjustment mechanism operates effectively.
She added that the board will also assess the completion of financing assurances, which involves confirming financial commitments from multilateral partners.
The staff-level agreement, finalised on 25th of April as part of the fourth review of Sri Lanka’s economic program, could unlock a disbursement of $334 million once approved.
However, disbursement remains subject to the full implementation of the required reforms.
