IMF Executive Board approves Fourth Review on SL

Thursday, 3 July 2025 05:52 - - {{hitsCtrl.values.hits}}

The Executive Board of the International Monetary Fund (IMF) on Tuesday approved the Fourth Review of Sri Lanka’s $ 3 billion Extended Fund Facility (EFF) program.

The move entails the release of SDR 254 million (about $ 350 million), bringing the total IMF financial support disbursed under the arrangement to SDR 1.27 billion (about $ 1.74 billion).

“The Executive Board of the IMF completed the Fourth Review under the 48-month EFF arrangement, allowing the authorities to draw SDR 254 million (about $ 350 million),” IMF Mission Chief for Sri Lanka Evan Papageorgiou said.

The EFF arrangement for Sri Lanka was approved by the Executive Board on 20 March 2023 in an amount of SDR 2.286 billion (395% of quota or about $ 3 billion).

He said the program supports Sri Lanka’s efforts to durably restore macroeconomic stability by (i) restoring fiscal and debt sustainability while protecting the vulnerable, (ii) safeguarding price and financial sector stability, (iii) rebuilding external buffers, (iv) strengthening governance and reducing corruption vulnerabilities, and (v) enhancing growth-oriented structural reforms.