IMF executive board meeting on Sri Lanka expected in coming months
The International Monetary Fund (IMF) announced that its Executive Board meeting on Sri Lanka is anticipated to occur in the coming months, pending the completion of prior actions by Sri Lankan authorities.
Julie Kozack, IMF Communications Director, made the statement during a press briefing in Washington, DC, in response to a question from News 1st’s Journalist.
On 23 November 2024, IMF staff and Sri Lankan authorities reached a staff-level agreement on economic policies to conclude the third review of Sri Lanka’s economic reform program under the Extended Fund Facility (EFF). Upon approval by IMF Management and the Executive Board, Sri Lanka will gain access to approximately USD 333 million in financing.
The Executive Board’s review will be contingent on the authorities implementing required prior actions and completing a financing assurances review, which includes verifying contributions from multilateral partners and assessing progress in debt restructuring.