IMF Board to Decide Sri Lanka’s Fate on Dec 15: Budget Holds the Key

COLOMBO (News 1st); The International Monetary Fund (IMF) has confirmed that its Executive Board meeting on Sri Lanka’s fifth review under the Extended Fund Facility (EFF) is scheduled for December 15, contingent on the country completing key prior actions related to its recently announced budget.

The review, once approved, will unlock USD 347 million in financing for Sri Lanka.

A staff-level agreement was reached on October 9 between IMF officials and Sri Lankan authorities.

Once the review is approved by the IMF Executive Board, Sri Lanka will have access to USD 347 million in financing.

The IMF is currently assessing Sri Lanka’s budget, which targets 7% growth in 2026, significantly higher than IMF projections.

The IMF emphasized that structural reforms remain critical to lifting Sri Lanka’s growth potential.