Politics · Sri Lanka Bureau
Central Bank chief expects IMF funds before year-end as bailout progresses
Sri Lanka's Central Bank Governor Dr. Nandalal Weerasinghe has signalled confidence that the next tranche under the International Monetary Fund's $3 billion Extended Fund Facility will be disbursed before December, following an anticipated Staff-Level Agreement with the Fund.
LSN Sri Lanka ·
Dr. Weerasinghe addressed investor concerns regarding the country's IMF bailout programme, outlining the expected timeline for the disbursement of the next instalment. The Central Bank chief indicated that achieving a Staff-Level Agreement with the IMF in the coming weeks would clear the way for funds to reach Sri Lanka before the end of the year, keeping the adjustment programme on track.
The Central Bank Governor's remarks come as Sri Lanka continues implementing the conditions laid out under the $3 billion Extended Fund Facility arrangement agreed with the IMF. The nation has been working to meet fiscal consolidation targets and structural reforms required under the programme.
On matters concerning post-2027 arrangements, Dr. Weerasinghe indicated that decisions regarding any subsequent IMF programmes following the current EFF would rest with the government. This clarification suggests the Central Bank's role will be advisory as authorities consider longer-term financial sustainability beyond the current facility's completion.