Thursday, 14 December 2023 09:27

IMF finalizes first review; Sri Lanka gets US$337mn Featured

The IMF Board on Tuesday completed the first review under the 48-month Extended Fund Facility with Sri Lanka, providing the country with access to SDR 254 million (about US$337 million) to support its economic policies and reforms, the IMF said.

The completion of the first review allows for an immediate disbursement of SDR 254 million (about US$337 million), bringing the total IMF financial support disbursed so far to SDR 508 million (about US$670 million).

The total amount of Sri Lanka’s EFF Arrangement is SDR 2.286 billion (about US$3 billion) as of the time of program approval on March 20, 2023 .

. The program supports Sri Lanka’s efforts to restore macroeconomic stability and debt sustainability, safeguard financial stability, and enhance growth-oriented structural reforms.

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