Sri Lanka hopeful IMF will approve third tranche today

The Central Bank of Sri Lanka (CBSL) has expressed confidence that the International Monetary Fund (IMF) will approve the release of the third tranche under the Extended Fund Facility (EFF) programme today (12).

Commenting regarding the matter, Assistant Governor of the CBSL Dr. Chandranath Amarasekara said: ““we hope IMF will announce releasing of the 3rd tranche to Sri Lanka under the EFF programme this evening”.

Dr. Amarasekara made this remark while speaking during an event held to brief heads of media on progress of economic reforms in the Department of Government Information (DGI) this morning (12).

The International Monetary Fund’s executive board is scheduled to meet today (Juen 12) to discuss the second review of the Extended Fund Facility (EFF) and Article IV Consultation.

The Article IV Consultation and second review under the Extended Fund Facility (EFF) for Sri Lanka are on the International Monetary Fund’s (IMF) Executive Board meeting agenda for June 12, as confirmed by Julie Kozack, the Director of the IMF Communications Department. 

During a press briefing on Thursday (06), 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 the Sri Lankan authorities reached staff-level agreement on economic policies to conclude the second review of the economic reform program and also the 2024 Article IV Consultation.