The Executive Board of the International Monetary Fund (IMF) is scheduled to review the Sri Lankan government’s request for emergency financial assistance of SDR 150.5 million, approximately USD 200 million, under the Rapid Financing Instrument (RFI) on Friday (19), according to the IMF Executive Board calendar.
The request follows the widespread destruction caused by Cyclone Ditwah last month, which severely affected several parts of the country, prompting the government to seek urgent financial support from the IMF.
Earlier this month, IMF Mission Chief for Sri Lanka Evan Papageorgiou said Sri Lankan authorities had formally requested assistance equivalent to about 26 percent of the country’s IMF quota, subject to approval by the IMF Executive Board.
In a statement issued on December 5, the IMF expressed sympathy with the people of Sri Lanka affected by the cyclone and reaffirmed its close engagement with the authorities during the recovery process.
The IMF said it remains committed to supporting Sri Lanka’s efforts to recover, rebuild, and strengthen resilience as the country implements urgent measures to address the economic and social impacts of the natural disaster.
Approval of the RFI would provide Sri Lanka with rapid access to emergency financing to help meet immediate balance-of-payments needs arising from the cyclone-related shock.
