The fifth and sixth combined reviews of Sri Lanka’s programme under the Extended Fund Facility (EFF) are scheduled to be considered today (27) by the Executive Board of the International Monetary Fund (IMF).
The IMF Executive Board is expected to assess Sri Lanka’s progress under the programme, with approval paving the way for the country to receive approximately USD 700 million in financial assistance.
Previously, the Director of the IMF’s Communications Department stated that implementing cost-recovery pricing mechanisms for electricity and fuel, while ensuring adequate protection for vulnerable groups, was a key requirement for securing approval of the reviews.
On April 9, the IMF and Sri Lanka reached staff-level agreement on economic policies to conclude the combined Fifth and Sixth Reviews of Sri Lanka’s reform program supported by the IMF’s Extended Fund Facility.
