An IMF mission is expected visit Sri Lanka on March 7 and will engage in the review of second tranche of the $3 billion IMF loan for two weeks.
Sri Lanka’s second review for the International Monetary Fund (IMF) loan is anticipated to be smoother than the first one as the government has implemented many reforms prescribed by the fund agency for economic recovery, State Finance Minister Shehan Semasinghe told reporters in Colombo.
An IMF mission is expected visit Sri Lanka on March 7 and will engage in the review of second tranche of the $3 billion IMF loan for two weeks.
“The second review will commence on the 7 March, and we are very confident that will be a smoother review than the first review,” Semasinghe told reporters.
He said the the first review was difficult because of hard policy decisions taken by the government in the initial stages.
The global lender completed the first review of the 48-month Extended Fund Facility (EFF) on December 12 before disbursing $337 million to support the island nation’s economic policies and reforms.
The IMF after the first review said Sri Lanka’s performance under the program was satisfactory while “all but one performance criteria and all but one indicative targets were met at end-June”. Sri Lanka implemented most structural benchmarks due by end-October 2023, though some with delay.
