IMF to offer Sri Lanka $350 million after fourth overview of bailout
A normal view of the Colombo primary port is seen past the principle wholesale market. The IMF has accomplished the fourth overview of Sri Lanka’s $2.9 billion bailout programme, permitting the nation to attract a $350 million tranche from the four-year facility. File
| Picture Credit score: Reuters
The IMF has accomplished the fourth overview of Sri Lanka’s $2.9 billion bailout programme, permitting the nation to attract a $350 million tranche from the four-year facility.
Amid the island’s unprecedented financial disaster, the Worldwide Financial Fund (IMF) in March 2023 accredited a virtually $3 billion facility to help Sri Lanka’s “efforts to durably restore macroeconomic stability by restoring fiscal and debt sustainability.
The power helped Sri Lanka revive its bankrupt financial system by constructing its reserves and efficiently negotiating debt restructuring with exterior collectors.
“The Government Board of the Worldwide Financial Fund (IMF) accomplished the Fourth overview below the 48-month Prolonged Fund Facility (EFF) Association, permitting the authorities to attract SDR254 million (about $350 million),” the worldwide lender stated in a press release.
This brings the overall IMF monetary assist disbursed to this point to SDR1.27 billion (about $1.74 billion).
The reforms that had been imposed on the IMF’s insistence have led to financial hardships, which the worldwide lender stated had been a should to make sure progress and stability.
The unpopular measures led to the change of presidency in 2024. The present authorities led by the Nationwide Individuals’s Energy, which had been crucial of the IMF-prescribed reforms and had vowed to overview them, continues to remain on track with the IMF programme.
Revealed – July 02, 2025 10:38 am IST
