The Executive Board of the International Monetary Fund (IMF) has scheduled May 27 to evaluate and consider the approval of the combined fifth and sixth reviews for Sri Lanka under the Extended Fund Facility (EFF).
The global financial institution noted that once the Executive Board grants its approval for these combined reviews, Sri Lanka will gain vital access to approximately USD 700 million in financial assistance. This disbursement is expected to significantly boost the island nation's economic recovery and financial stability.
Julie Kozack, Director of the IMF Communications Department, recently emphasized that a critical prior action required to secure approval for these reviews is the restoration of cost-recovery pricing frameworks for both electricity and fuel.
