Sri Lanka, May 23 -- The much-anticipated approval of Sri Lanka's Extended Fund Facility (EFF) program by the International Monetary Fund (IMF) Executive Board is expected "in the coming weeks," but its precise timing hinges on two key contingencies, according to Julie Kozack, Director of the IMF's Communications Department.
During a press briefing on May 22, 2025, Kozack addressed questions regarding the delay in the Board meeting for Sri Lanka's Fourth Review, which would unlock access to approximately $344 million in financing.
"The precise timing of the Board meeting is contingent on two things," Kozack stated. The first crucial factor is the "implementation of prior actions," primarily concerning the restoration of electricity cost r...