Sri Lanka, March 21 -- IMF staff and the Sri Lankan authorities have reached staff-level agreement on economic policies to conclude the second review of the 4-year EFF-supported program and the 2024 Article IV Consultation. Once the review is approved by IMF Management and completed by the IMF Executive Board, Sri Lanka will have access to SDR 254 million (about US$337 million) in financing.
Macroeconomic policy reforms are starting to bear fruit. Sustaining the reform momentum and addressing governance weaknesses and corruption vulnerabilities are critical to put the economy on a path towards lasting recovery and stable and inclusive growth.
Completion of the review by the IMF's Executive Board requires: (i) the implementation by the aut...