IMF Mission signals positive review outcome for Sri Lanka
The ongoing IMF staff mission in Sri Lanka is expected to conclude the combined 5th and 6th reviews on Thursday April 9 with a positive assessment, paving the way for the disbursement of approximately US$ 700 million, two tranches of the Extended Fund Facility (EFF).
This optimistic outlook is supported by recent high-level discussions and the government’s reported adherence to the EFF programme’s rigorous benchmarks, Finance Ministry sources confirmed.
Following this mission, the IMF staff will provide an updated assessment. The completion of these reviews depends on the approval of the IMF’s Executive Board, which then releases funds. IMF representatives have commended the government for successfully transitioning to a resilient economic status through successful growth targets and revenue management.
President Anura Kumara Dissanayake stated that Sri Lanka has met all targets set under the EFF during a meeting with the IMF team on Wednesday.
The IMF has appreciated the government’s prudent management of external shocks, such as the effects of the West Asian conflict on fuel prices and the aftermath of Cyclone Ditwah. The IMF has been particularly concerned with addressing the effects of the conflict and the consequences of Cyclone Ditwah, ensuring that these factors do not disrupt the progress of the overall reform agenda.
The talks with Sri Lankan authorities on projections for economic growth have revealed a dichotomy between the country’s lofty growth projections and conservative “trend growth” projections made by international agencies.
The Central Bank estimates a growth rate between 4.5 to 5 per cent in 2026 while the IMF has retained its projection of a growth rate of 3.1 per cent, factoring a reduction from the previously estimated 3.5 per cent, expecting the economy to return to its long-term growth path.
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