Sri Lanka Aims for IMF Staff-Level Agreement This Week for USD 700 Million Tranches

President Anura Kumara Dissanayake recently stated that Sri Lanka is actively working towards reaching a staff-level agreement with the International Monetary Fund (IMF) this week, with an aim to finalize it by Thursday. This agreement is expected to facilitate the release of the 5th and 6th tranches, totaling USD 700 million, before the end of May. The President noted that while such agreements are typically concluded in Washington DC, discussions are currently ongoing in Colombo to finalize the deal locally. Additionally, he revealed that extensive discussions with the Asian Development Bank (ADB) have secured approximately USD 1.2 billion in funding expected within this year. These announcements were made in Parliament during the presentation of a Cabinet-approved economic relief package.