Sri Lanka, July 2 -- The International Monetary Fund (IMF) Executive Board has successfully completed the Fourth Review under Sri Lanka's 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw SDR 254 million (about USD 350 million).
This latest disbursement brings the total IMF financial support provided to Sri Lanka so far to SDR 1.27 billion (about USD 1.74 billion). As stated by Evan Papageorgiou, IMF Mission Chief for Sri Lanka, the EFF arrangement, originally approved on March 20, 2023, for an amount of SDR 2.286 billion (395 percent of quota or about USD 3 billion), is a crucial component of Sri Lanka's efforts to durably restore macroeconomic stability.
The program focuses on several key areas: restori...