The Executive Board of the International Monetary Fund (IMF) approved a disbursement of SDR150.5 million (about US$206 million, equivalent to 26 percent of quota) for Sri Lanka under the Rapid Financing Instrument (RFI). This emergency support will help address urgent balance-of-payments and fiscal pressures arising from the catastrophic Cyclone Ditwah, which hit the country on November 28. The Sri Lankan authorities remain committed to their economic reform program supported by the Extended Fund Facility (EFF). The cyclone hit when the Fifth Review under the EFF was nearing completion. Given the time needed to assess the economic impact of the cyclone…
IMF Approves US$206 Million in Emergency Financial Support for Sri Lanka
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