The International Monetary Fund (IMF) and the Sri Lankan authorities have reached a staff-level agreement on economic policies to conclude the seventh review of Sri Lanka’s reform programme supported by the IMF’s Extended Fund Facility (EFF).
The agreement is subject to approval by the IMF Executive Board. Once approved, Sri Lanka will gain access to approximately USD 345 million in financing.
The IMF said Sri Lanka’s economy has continued to demonstrate resilience despite successive shocks, supported by economic reforms implemented by the authorities.
However, the IMF cautioned that risks remain tilted to the downside, particularly due to uncertainty over the intensity and duration of the ongoing conflict in the Middle East.
