Sri Lanka’s State Minister of Finance, Shehan Semasinghe, announced that today (June 12) marks a significant milestone for Sri Lanka’s economy. The International Monetary Fund’s (IMF) executive board is scheduled to discuss the second review of the Extended Fund Facility (EFF) and the Article IV consultation.
In a post on ‘X’ (formerly Twitter), Semasinghe expressed optimism that international partners will continue to support Sri Lanka’s efforts. He highlighted that a favorable outcome from the review is expected to unlock the third tranche of approximately USD 330 million, which would further enhance confidence in ongoing economic reforms and growth.
“Further, we are in the final steps of finalizing the debt restructuring agreements, with continued support from our bilateral partners,” he added.
Julie Kozack, the Director of the IMF Communications Department, confirmed that the Article IV Consultation and second review under the Extended Fund Facility (EFF) for Sri Lanka are on the IMF Executive Board’s meeting agenda for June 12.
During a press briefing on Thursday (June 6), Kozack affirmed that there is a strong expectation that Sri Lanka will soon reach agreements with external commercial creditors consistent with program parameters.
On March 21, IMF staff and Sri Lankan authorities reached a staff-level agreement on economic policies to conclude the second review of the economic reform program and the 2024 Article IV Consultation.
