At a press briefing, Julie Kozack, IMF Director of Communications, confirmed that a staff-level agreement had been reached on October 9 between IMF officials and the Sri Lankan authorities.
“Once the review is approved by the IMF Executive Board, Sri Lanka will have access to USD 347 million in financing. We expect the Board meeting to take place in the coming weeks,” Kozack said, responding to a question raised by News 1st’s Zulfick Farzan.
Commenting on the recently announced national budget—which sets an ambitious 7% economic growth target for 2026, significantly higher than IMF projections—Kozack noted that the Fund is currently reviewing the published budget documents.
“This assessment will be an important part of the review that will be discussed by the Board in the coming weeks,” she stated.
Kozack reiterated that deep and sustained structural reforms are essential to lifting Sri Lanka’s long-term growth potential. She highlighted several priority areas:
She stressed that protecting low-income and vulnerable communities “should remain a priority going forward” as Sri Lanka continues its economic recovery.
The approval of the fifth EFF review will bring the total IMF disbursements under the program to a significant figure, offering further support to Sri Lanka’s ongoing reforms and stabilization efforts.
