IMF approves $333m for Sri Lanka

The International Monetary Fund (IMF) and Sri Lankan authorities have reached a staff-level agreement on the third review under the 4-year programme, allowing Sri Lanka to access approximately $333 million in financing.

The programme, which is supported by the IMF’s Extended Fund Facility (EFF), was strong with all quantitative performance criteria and indicative targets (IT) for end-June 2024 met, as per a recent report published by the IMF, according to the report.

“Gross official reserves increased to $6.4 billion at end-October 2024 with sizeable foreign exchange purchases by the Central Bank. Public finances have strengthened following substantial fiscal reforms.” the statement added.

Attribution: The International Monetary Fund report.

Subediting: M. S. Salama