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Saturday, November 2, 2024

IMF Approves $336 Million Disbursement for SL

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The Executive Board of the International Monetary Fund (IMF) completed the second review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw SDR 254 million (about US$336 million).

This brings the total IMF financial support disbursed so far to SDR 762 million (about US$1 billion). The Executive Board also concluded the 2024 Article IV Consultation with Sri Lanka, the Washington-based lender said in a statement.

The EFF arrangement for Sri Lanka was approved by the Executive Board on March 20, 2023, in an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion). The first review of the EFF was completed by the Executive Board on December 12, 2023, with disbursements of SDR 254 million (about US$337 million).

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