IMF team to meet Sri Lanka’s central bank officials today
November 18, 2024 10:01 am
The representatives of the International Monetary Fund (IMF), who arrived in Sri Lanka on Sunday (17) led by Senior Mission Chief Peter Breuer, are set to meet with officials from the Central Bank of Sri Lanka (CBSL) today (18).
Following this discussion, the delegation is expected to hold meetings with President Anura Kumara Dissanayake and key ministers of the newly-formed government to further discuss Sri Lanka’s economic recovery programme.
At the conclusion of their meetings, the IMF representatives will host a press conference to share updates on the progress of the third review of Sri Lanka’s economic reform program under the Extended Fund Facility (EFF).
Upon successful completion of the review, the IMF is expected to release the next tranche of the bailout package to Sri Lanka. The IMF had approved a USD 2.9 billion Extended Fund Facility for Sri Lanka over a 48-month period in tranches to help its economy recover from the economic crisis.
Accordingly, 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. The third tranche, totaling USD 337 million, was released on June 13, 2024.
As of now, the IMF has provided more than USD 1 billion to Sri Lanka in the aftermath of the country’s worst economic crisis.
