Sri Lanka to Receive USD 695Mn IMF Tranches by Early June

COLOMBO (News 1st) - The Ministry of Finance and Planning states that Sri Lanka is expected to receive the 6th and 7th tranches of the International Monetary Fund's (IMF) Extended Fund Facility (EFF) within the first week of June.

The Ministry mentioned that the preliminary work for this is underway.

On the 27th of May, the IMF Executive Board approved the release of an additional USD 695 million under the Extended Fund Facility implemented for Sri Lanka.

Accordingly, the total amount disbursed so far under the 48-month program which was approved in March 2023 stands at USD 2.4 billion.

The loan facility was approved to help Sri Lanka recover from the severe economic crisis which the country faced in 2022.