The Executive Board of the International Monetary Fund has completed the combined Fifth and Sixth Reviews of Sri Lanka’s economic reform program under the 48-month Extended Fund Facility (EFF), unlocking immediate access to SDR508 million (approximately US$695 million).
With the latest disbursement, total financing received by Sri Lanka under the IMF-supported arrangement has risen to SDR1.778 billion (around US$2.4 billion), according to an IMF statement.
The EFF arrangement for Sri Lanka was originally approved on March 20, 2023, with a total value of SDR2.286 billion equivalent to about US$3 billion and 395 percent of Sri Lanka’s IMF quota.
The IMF said the program continues to support Sri Lanka’s efforts to restore long-term macroeconomic stability following the country’s severe economic crisis. Key reform priorities under the arrangement include restoring fiscal and debt sustainability while protecting vulnerable communities, maintaining price and financial sector stability, rebuilding external reserves, strengthening governance and anti-corruption measures, and advancing structural reforms aimed at promoting sustainable economic growth.
The latest review reflects continued progress in implementing economic reforms and policy measures agreed between Sri Lanka and the IMF as the country works toward economic recovery and financial stability.
