header logo
SLIC
Latest
IMF to prioritise US$ 200 million Rapid Financing Instrument request made by Sri Lanka
Dec 07, 202507:20 PM
IMF to prioritise US$ 200 million Rapid Financing Instrument request made by Sri Lanka
Mobitel inner 1278

The International Monetary Fund (IMF) has decided to prioritise the US$ 200 million Rapid Financing Instrument (RFI) request made by Sri Lanka in a bid to tackle the challenges the country is facing following the devastation caused by Cyclone Ditwah.

 

In a statement, the IMF has announced that in light of Sri Lankan authorities’ request for emergency financing, the IMF’s Executive Board will consider the Rapid Financing Instrument (RFI) request as a priority at the current juncture.

 

The support under the RFI is in addition to Sri Lanka’s Extended Fund Facility access, the IMF noted.

 

An IMF team is also scheduled to visit Sri Lanka in early 2026 to resume discussions for the completion of the Fifth Review of the Extended Fund Facility (EFF).

 

The IMF said on Friday that it is considering an emergency request from Sri Lanka for about US$ 200 million in rapid financial assistance, as the country struggles to recover from the devastation left by Cyclone Ditwah.

 

Evan Papageorgiou, the IMF’s mission chief for Sri Lanka, said the cyclone had caused “devastating impact and widespread destruction,” and expressed condolences to those affected. The storm, one of the most destructive to hit Sri Lanka in recent years, has battered infrastructure, displaced thousands and intensified concerns over the country’s fragile economic recovery.

 

Sri Lanka has asked the Fund for support under its Rapid Financing Instrument, seeking SDR 150.5 million- about 26 percent of its quota, or roughly US$ 200 million.

 

The request will need approval from the IMF’s Executive Board, which is expected to assess the scale of the disaster’s economic fallout and the government’s broader fiscal position.

 

“The IMF remains closely engaged with the Sri Lankan authorities during this challenging period,” Papageorgiou said in a statement.

 

“We are committed to supporting the country as it undertakes urgent efforts to recover, rebuild and promote resilience for the future.”

 

The appeal comes as Sri Lanka continues to navigate a prolonged economic crisis marked by depleted foreign reserves, high inflation and a heavy debt burden. The cyclone’s destruction has added new pressure on the government, which is racing to restore essential services and provide relief to hard-hit communities.

 

International assistance - including from multilateral lenders like the IMF- is likely to play a critical role in the country’s immediate recovery and longer-term rebuilding efforts.

 

 

 

MostRead
Mobitel 1278
VideoStories
Randoli Perahera lights up streets of Kandy Devotees gather in numbers to witness the procession

Randoli Perahera lights up streets of Kandy Devotees gather in numbers to witness the procession

Over 70% Sri Lankans may back abolishing Executive Presidency; - Ex-Minister GL Peiris on Hyde Park

Over 70% Sri Lankans may back abolishing Executive Presidency; - Ex-Minister GL Peiris on Hyde Park

El Niño Impact: Prolonged dry spell affects 14 districts across Sri Lanka

El Niño Impact: Prolonged dry spell affects 14 districts across Sri Lanka

22nd Constitutional Amendment: Govt. says it has mandate for reforms, ITAK calls for referendum

22nd Constitutional Amendment: Govt. says it has mandate for reforms, ITAK calls for referendum

“Sri Lanka a promising partner for shared growth”  - Indonesian Ambassador to Sri Lanka

“Sri Lanka a promising partner for shared growth” - Indonesian Ambassador to Sri Lanka

Veteran lyricist Ven. Rambukana Siddhartha Thero  laid to rest today

Veteran lyricist Ven. Rambukana Siddhartha Thero laid to rest today

Public pay final respects to the late Nanda Malini Final rites tomorrow

Public pay final respects to the late Nanda Malini Final rites tomorrow

Petitions filed challenging constitutionality of  22nd Amendment Bill increase to 13

Petitions filed challenging constitutionality of 22nd Amendment Bill increase to 13

 Legendary Sri Lankan singer Dr. Nanda Malini passes away at 82

Legendary Sri Lankan singer Dr. Nanda Malini passes away at 82

UN receives public petition against alleged mistreatment of Suresh Sallay

UN receives public petition against alleged mistreatment of Suresh Sallay

Former President Ranil’s facts, data and interpretations are incorrect - Minister Anil Jayantha

Former President Ranil’s facts, data and interpretations are incorrect - Minister Anil Jayantha

Health officials warn public that prolonged heat exposure could be fatal

Health officials warn public that prolonged heat exposure could be fatal

 "Sri Lanka faces new economic crisis after 2028"; Former President Ranil Wickremesinghe warns

"Sri Lanka faces new economic crisis after 2028"; Former President Ranil Wickremesinghe warns

 BASL challenges 22A before SC; calls for full bench to examine the constitutionality of the bill

BASL challenges 22A before SC; calls for full bench to examine the constitutionality of the bill

Govt. ready for public referendum if ordered by SC, 22A Parliament debate in Sept. or Oct. – Nalinda

Govt. ready for public referendum if ordered by SC, 22A Parliament debate in Sept. or Oct. – Nalinda

Lassana Flora