IMF Approves USD 695 Million Tranche for Sri Lanka Following Review Milestones

The International Monetary Fund's (IMF) Executive Board has approved the fifth and sixth reviews of Sri Lanka's Extended Fund Facility (EFF), paving the way for an additional USD 695 million disbursement. This approval follows the board's meeting on May 27th. The IMF had initially committed a total financial assistance package of USD 3 billion to Sri Lanka in March 2023. With this latest tranche, the total funds disbursed to Sri Lanka under the EFF program are expected to reach USD 2.4 billion.