May 21, Colombo (LNW): Sri Lanka is set to receive a substantial injection of foreign financing in the coming days, with authorities expressing confidence that upcoming multilateral disbursements will further strengthen the country’s external reserves.
Speaking in Parliament this (21) afternoon, Deputy Minister of Finance Anil Jayantha Fernando said the government was anticipating a key tranche from the International Monetary Fund (IMF), expected to be approved by the organisation’s Board of Directors on May 27. He indicated that the disbursement could amount to around US$700 million.
The Deputy Minister noted that the IMF inflow would form part of a broader package of external financial support aimed at reinforcing macroeconomic stability, alongside earnings from exports and worker remittances.
He further outlined additional expected inflows from other international partners, stating that Sri Lanka could receive up to US$480 million from the Asian Development Bank over the course of the year. In addition, the World Bank is expected to provide approximately US$150 million, while a further US$50 million may come from another associated global financing facility.
According to Fernando, these combined inflows would play a crucial role in easing pressure on foreign currency reserves and supporting the country’s balance of payments position.
He told Parliament that, given the projected inflows from multilateral institutions, there should be no significant challenges in managing foreign exchange requirements in the near term.
The anticipated IMF disbursement forms part of Sri Lanka’s ongoing economic reform programme, which is aimed at stabilising public finances, restoring investor confidence and strengthening the country’s external sector resilience following recent economic difficulties.
