IMF delegation meets CBSL to review Sri Lanka’s economic recovery plan

The International Monetary Fund (IMF) delegation is scheduled to meet with officials from the Central Bank of Sri Lanka (CBSL) today (November 18).

The IMF delegation, led by Senior Mission Chief Peter Breuer, arrived in Sri Lanka on Sunday (November 17).

Following this, the IMF team will hold discussions with Sri Lankan President Anura Kumara Dissanayake and key ministers of the newly formed government to review the country’s economic recovery plan.

At the end of their meetings, the IMF representatives will hold a press conference to update the public on the progress of the third review of Sri Lanka’s economic reform program under the Extended Fund Facility (EFF).

Once the review is successfully completed, the IMF is expected to release the next payment in Sri Lanka’s bailout package. The IMF approved a USD 2.9 billion Extended Fund Facility for Sri Lanka over 48 months to help the country recover from its economic crisis.

The first payment of USD 333 million was released on March 21, 2023, followed by USD 337 million on December 13, 2023. The third payment of USD 337 million is scheduled for June 13, 2024.

So far, the IMF has provided more than USD 1 billion to Sri Lanka in response to its worst economic crisis.