IMF Executive Board Decision on Sri Lanka In Coming Months

News 1st (Jakarata, Indonesia); The International Monetary Fund says that the the Executive Board meeting on Sri Lanka is expected to take place in the coming months, following in the implementation by the authorities on the prior actions.

Julie Kozack, the Director of the Communications Department of the IMF made these comments in response to a question posed by News 1st's Zulfick Farzan during a press conference in Washington, DC.

On 23rd November 2024, IMF staff and the Sri Lankan authorities reached staff-level agreement on economic policies to conclude the third review of Sri Lanka’s economic reform program supported by the IMF’s Extended Fund Facility (EFF). Once the review is approved by IMF Management and completed by the IMF Executive Board, Sri Lanka will have access to about US$333 million in financing.

The IMF’s Executive Board will consider completion of the review based on (i) the implementation by the authorities of prior actions; and (ii) the completion of financing assurances review, confirming multilateral partners’ financing contributions and assessing adequate progress with debt restructuring.