A delegation from the International Monetary Fund (IMF), led by Senior Mission Chief Peter Breuer, arrived in Sri Lanka on Sunday, November 17. Today, November 18, the team is scheduled to meet with officials from the Central Bank of Sri Lanka (CBSL).
Following discussions with the CBSL, the IMF representatives will meet with President Anura Kumara Dissanayake and key ministers of the newly-formed government to continue deliberations on Sri Lanka’s economic recovery program.
The IMF delegation will conclude their visit with a press conference to provide updates on the third review of Sri Lanka’s economic reform program under the Extended Fund Facility (EFF).
If the review is successfully completed, the IMF will release the next tranche of the bailout package to Sri Lanka. The IMF previously approved a USD 2.9 billion Extended Fund Facility for Sri Lanka, to be disbursed over 48 months, aimed at supporting the country’s economic recovery from its severe financial crisis.
The first tranche of USD 333 million was released on March 21, 2023, followed by a second tranche of USD 337 million on December 13, 2023, and a third tranche of USD 337 million on June 13, 2024. To date, the IMF has disbursed over USD 1 billion to aid Sri Lanka in overcoming its economic challenges.
