Sri Lanka expects first review by IMF to be successful
Sri Lanka expects the first review by the International Monetary Fund (IMF) in September to be successful.
State Minister of Finance Shehan Semasinghe said that the IMF will assess the programme’s performance until the end of June.
“We welcome the IMF team in Sri Lanka for the first review of the Extended Fund Facility (EFF) programme from September 14 – 27, and it will assess the programme’s performance until the end of June. The successful completion of the first review would place,” the State Minister said.
He said that Sri Lanka is in a prime position, to shift from stabilisation to growth from 2024 onwards and would enable a disbursement of approximately US$ 330 million.
“The funding will play a significant role in supporting the economic reforms and initiatives outlined in the EFF programme,” Semasinghe said.
The Washington-based lender approved a nearly US$3 billion bailout for crisis-hit Sri Lanka in March. The Asian island is struggling with its worst financial crisis in over seven decades, triggered by a severe shortage of foreign exchange. (Colombo Gazette)
