The Executive Board of the International Monetary Fund has decided to conduct the fifth and sixth reviews of Sri Lanka under the Extended Fund Facility on May 27.
The Executive Board has approved a financial assistance of about US$700 million for Sri Lanka following this review, the IMF said.
Recently, Julie Kosak, Director of the IMF’s Communications Department, said that restoring cost-recovery electricity and fuel pricing while protecting vulnerable parties is a critical first step in securing approval for these reviews.