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IMF signals confidence in Sri Lanka ahead of critical executive board ...
Sri Lanka is on the verge of unlocking approximately USD 700 million in IMF financing, with the Fund's Executive Board expected to meet within weeks to consider approval of the country's fifth and sixth programme reviews. IMF Communications Department Director Julie Kozack confirmed at a press briefing that a staff-level agreement had been reached with Sri Lankan authorities on 09 April, but said final approval remained subject to the Board's decision. Before the reviews can be presented to the Board, Sri Lanka must complete several prior actions, Kozack said. These include restoring cost-recovery pricing for electricity and fuel while protecting vulnerable groups, and completing a financing assurances review. She described the pricing reform as a dual approach, balancing full cost recovery with social protection measures for those most at risk. Resilience despite major shocks Kozack acknowledged that Sri Lanka had recently faced two significant setbacks. She described Cyclone Ditwah as a tragic and devastating humanitarian and economic crisis, and pointed to the continuing impact of the conflict in the Middle East on global and domestic economic conditions. Despite these challenges, she said the Sri Lankan economy and its people had shown remarkable resilience. Strong economic performance The IMF highlighted an encouraging economic trajectory for Sri Lanka, noting that the economy grew by five percent in 2025, fiscal performance was strong on the back of revenue improvements, and inflation — which had previously been in negative territory — has returned to positive levels. Debt restructuring is also nearing completion, and the country's debt-to-GDP ratio is expected to continue declining. Kozack credited the progress to reforms implemented under the IMF programme over several years, saying they were beginning to deliver tangible results. "The IMF remains very committed to supporting Sri Lanka," she said, adding that the Fund would work closely with the authorities on the country's continued stabilisation and recovery.
Sri Lanka's IMF reviews expected in coming weeks, $700 Million release ...
Posted by ONLANKA Newsroom on May 17, 2026 - 10:14 am The IMF said it expects its Executive Board to take up Sri Lanka’s combined Fifth and Sixth Reviews under the Extended Fund Facility (EFF) in the coming weeks, and that approval would allow Sri Lanka to access about US$700 million in financing. Speaking at the IMF’s May 14, 2026 press briefing, IMF Communications Director Julie Kozack said an IMF team and Sri Lankan authorities reached a Staff-Level Agreement on April 9 for the combined reviews, but final completion depends on Executive Board approval. Kozack said several “prior actions” were needed before the program can be brought to the Board. These included restoring cost-recovery electricity and fuel pricing, while also protecting vulnerable groups, and completing the financing assurances review. She described the move to cost recovery as having two parts: shifting prices to cost-recovery levels and ensuring vulnerable people are protected. Asked whether the program may be adjusted or renewed due to global conditions and higher fuel import costs, Kozack said Sri Lanka has faced two major shocks: Cyclone Ditwah, which she described as both an economic and humanitarian shock, and the impact of the war in the Middle East. She said Sri Lanka and its people have shown “remarkable resilience,” and that reforms implemented over recent years under the IMF-supported program are delivering results. Kozack highlighted that fiscal performance in 2025 was particularly strong, supported mainly by revenue, while debt restructuring is nearly complete. She added that the economy grew by 5% in 2025, inflation has moved from negative (deflationary) territory back to positive, and the IMF expects the debt-to-GDP ratio to be on a downward path. Kozack said the IMF views Sri Lanka’s economic performance as strong and the authorities’ reform commitment as firm, adding that the IMF will keep working closely with the government to determine how best to support Sri Lanka, and that its commitment to supporting Sri Lanka and its people remains “unwavering.” Latest Headlines in Sri Lanka Sri Lanka’s IMF reviews expected in coming weeks, $700 Million release pending May 17, 2026 SriLankan Airlines probes UAE payment fraud, Chennai fund scam May 17, 2026 Sri Lanka imposes 50% vehicle import duty surcharge May 16, 2026 Sri Lanka managing energy crisis without public burden: PM Harini Amarasuriya May 16, 2026 Train derailment between Kelaniya and Wanawasala injures 10 May 1...
IMF Executive Board to Decide On Sri Lanka's Combined Reviews On May 27
COLOMBO (News 1st); The International Monetary Fund has set 27 May 2026 for its Executive Board to decide on the Fifth and Sixth reviews of Sri Lanka' - Get the latest breaking news and top ...
IMF Executive Board to consider Sri Lanka's combined reviews on May 27
The International Monetary Fund (IMF) has scheduled May 27, 2026 for its Executive Board to decide on the Fifth and Sixth reviews of Sri Lanka's Extended Fund Facility (EFF) programme. Once the review is approved by the IMF Executive Board, Sri Lanka will have access to about US$700 million in financing, according to the IMF.
