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IMF board to review Sri Lanka staff agreement in coming weeks
International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo Purchase Licensing Rights, opens new tabWASHINGTON, May 14 (Reuters) - The International Monetary Fund's executive board is expected to review a staff level agreement reached with Sri Lanka in the coming weeks, IMF spokeswoman Julie Kozack said on Thursday.Once approved by the board, Sri Lanka will have access to about $700 million under its Extended Fund Facility with the IMF, she told reporters at a regular IMF briefing. Sign up here.Sri Lanka reached a staff-level agreement with the IMF in April that requires reforms, including in fuel levies, to ensure stability and growth.The island nation is working to recover from its worst economic crisis in decades, which led to a foreign debt default in 2022 and a $2.9-billion IMF bailout program, but the conflict in the Middle East has created significant new challenges.Sri Lanka, like many other Asian countries, has faced a surge in energy prices as a result of the war.Kozack said Sri Lanka had to complete a few prior actions before the board could consider the staff-level agreement, including the restoration of cost recovery for electricity and fuel pricing, while ensuring the protection of vulnerable people.She said the Sri Lankan economy and people had shown remarkable resilience to the dual shocks of Cyclone Ditwah and the Middle East conflict."The Sri Lankan economy is performing well; the reform commitment is strong by the authorities," she said, pledging the IMF's unwavering support as Sri Lanka worked to achieve a more stable economy.Reporting by Andrea Shalal; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles., opens new tab
IMF Board Decision on Sri Lanka Expected Within Weeks - Facebook
13 hours ago ... The momentum continues as the IMF team is currently conducting the fifth review of Sri Lanka's Extended Fund Facility (EFF) arrangement, a critical step for the ...
Sri Lanka to raise electricity tariffs by up to 18pc amid soaring ...
Sri Lanka to raise electricity tariffs by up to 18pc amid soaring energy costs linked to Middle East war Vehicles move past switched-off street lights along a flyover in Colombo on April 2, 2026 as authorities order measures to save electricity amid an energy shortage across the country. — AFP pic Stay updated on the latest news and insights.
Sri Lankan govt plans to hike electricity tariff amid energy crisis
The latest hike comes on top of a 40% tariff increase introduced last month. Sri Lanka has also raised fuel prices by more than 35% and rationed the same following energy supply disruptions.
