IMF Reaches Staff-Level Agreement with SL on the 2nd Review

The IMF staff and Sri Lankan authorities have reached a staff-level agreement on economic policies to conclude the 2nd Review.

Once the IMF Management approves, Sri Lanka will have access to around USD 337 million in financing.

Convening a media briefing, International Monetary Fund (IMF) Senior Mission Chief for Sri Lanka Peter Breuer said Sri Lanka is making good progress in implementing an ambitious reform agenda with commendable outcomes.

The IMF commended the Government’s actions, which have resulted in inflation decelerating faster than expected.

The EFF arrangement was approved by the IMF Executive Board for a total amount of SDR 2.3 billion (about US$3 billion) on March 20, 2023.