Colombo, March 1 -- The International Monetary Fund (IMF) Executive Board completed the third review under the 48-month Extended Fund Facility (EFF) with Sri Lanka, providing the country with immediate access to Special Drawing Right (SDR) 254 million (about 334 million U.S. dollars) to support its economic policies and reforms, the IMF said in a press release on Friday.
The IMF said Sri Lanka's performance under the program has been strong and that all quantitative targets for end-December 2024 were met, except the indicative target on social spending.
The IMF said reform efforts are bearing fruit, and the recovery is gaining momentum. As the economy is still vulnerable, sustaining the reform agenda is critical to put the economy on a pa...