IMF staff and the Sri Lankan authorities have reached staff-level agreement on economic policies to conclude the Fourth Review of Sri Lanka’s reform program supported by the IMF’s Extended Fund Facility. Once the review is approved by the IMF Executive Board, Sri Lanka will have access to about US$344 million in financing.

The International Monetary Fund (IMF) staff team had very productive discussions with the Sri Lankan authorities on economic performance and policies underpinning the Fourth Review under the IMF Extended Fund Facility (EFF) arrangement.

Global uncertainty remains elevated and is contributing to financial market volatility. The government remains committed to program objectives and implementation is strong and commendable, but more time is needed to assess the implications for Sri Lanka of the external shock.