The Executive Board of the International Monetary Fund (IMF) is scheduled to meet on February 28, 2025 to discuss and approve third review of Sri Lanka’s Extended Fund Facility (EFF) programme.
The IMF staff and the Sri Lankan authorities reached a staff-level agreement on the Third Review of Sri Lanka’s EFF program on November 23, 2024. Once approved by the IMF’s Executive Board, Sri Lanka will have access to around USD 333 million in financing.
The IMF had previously stated that the release of the fourth tranche of Sri Lanka’s EFF programme is pending its Executive Board’s approval and that the approval is contingent upon implementation by the authorities of prior actions, including submission of the 2025 Budget that is “consistent with parameters identified under the program”.
However, during IMF’s weekly press briefing held on February 06, IMF Spokesperson Julie Kozack emphasized that Sri Lanka’s ambitious reform agenda is delivering commendable outcomes, noting that the economy expanded by 5.5 percent in the fourth quarter of 2024.