The International Monetary Fund (IMF) has reached a staff-level agreement with Sri Lanka on the Fourth Review of its economic reform program under the Extended Fund Facility (EFF). Upon approval by the IMF Executive Board, Sri Lanka will receive approximately $344 million, bringing total disbursements under the program to $1.72 billion.

The IMF noted that Sri Lanka’s economy is rebounding, with 5% growth projected for 2024, improved public revenue, and growing reserves now at $6.5 billion. Most performance benchmarks have been met, but cost-recovery electricity pricing remains a key unmet structural benchmark.

The IMF also stressed the importance of sustaining reforms, improving social protection for vulnerable populations, and strengthening governance. The government’s continued commitment has improved confidence in Sri Lanka’s reform trajectory.