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IMF Executive Board to review SL’s EFF progress: Govt optimistic about economic stability

June 03, Colombo (LNW): The Article IV Consultation and second review under the Extended Fund Facility (EFF) for Sri Lanka are slated on the agenda of the International Monetary Fund’s (IMF) Executive Board meeting scheduled for June 12, Finance State Minister Shehan Semasinghe announced.

In a communication shared on ‘X’ Semasinghe stated, “The session will assess Sri Lanka’s economic policies and reform progress.”

He further expressed Sri Lanka’s anticipation for continued support from all nations to facilitate a successful review, aiming to unlock the third tranche.

This, he noted, would bolster economic stability, growth, and reform initiatives.

Julie Kozack, Director of IMF Communications, previously disclosed that IMF staff and Sri Lankan authorities had reached a staff-level agreement on economic policies, marking progress towards concluding the second review of the four-year EFF-supported program and the 2024 Article IV Consultation.

“Upon approval by IMF Management and completion by the IMF Executive Board, Sri Lanka is poised to access approximately US$337 million in financing,” Kozack added.

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