Wednesday Apr 08, 2026
Wednesday Apr 08, 2026
Wednesday, 8 April 2026 04:33 - - {{hitsCtrl.values.hits}}
President Anura Kumara Dissanayake yesterday said Sri Lanka will receive the fifth and sixth review tranches totaling $ 700 million of the IMF Extended Fund Facility before end-May.
“We have had very productive discussions with the International Monetary Fund, and we are aiming to sign a staff-level agreement by Thursday. Typically, discussions are held here, and we must travel abroad to sign the agreement. However, this time there is preparedness to sign it locally. If so, both the fifth and sixth tranches will be disbursed together, enabling us to receive approximately $ 700 million before the end of May,” Dissanayake told Parliament yesterday.
He said also said that the ADB will provide $ 1.2 billion before the end of this year which will help the country shore up its reserves, which Dissanayake said is expected to decline as a result of the global supply shocks due to the Middle East war.
“A delegation from the Asian Development Bank visited Sri Lanka in recent days. They have agreed to provide assistance amounting to $ 1.2 billion within this year. In addition, the World Bank has also expressed agreement to extend certain forms of financial support. Accordingly, the risk of a decline in foreign reserves is relatively low,” Dissanayake said.
“We are still obligated to make debt repayments. Therefore, there may be some reduction in foreign reserves by the end of May. Nevertheless, this can be offset through the inflows expected from the International Monetary Fund and the Asian Development Bank.
“The value of the rupee has depreciated slightly. Compared to the depreciation of other currencies, however, the decline of the Sri Lankan rupee has so far been relatively modest. Import expenditure has increased somewhat due to the festive season, but this is expected to ease after the 10th of this month. Import costs may rise again around mid-May,” he said.
