IMF team arrives in Colombo today for 7th EFF review

An International Monetary Fund (IMF) team is due to arrive in Colombo today for nearly two weeks of talks with the Sri Lankan authorities on the Seventh Review of the country’s US $ 3 billion Extended Fund Facility (EFF) programme and 2026 Article IV Consultation.

The mission, scheduled from September 10 to 23, will assess the recent economic developments, progress on the government’s reform agenda and longer-term structural issues, according to IMF Mission Chief for Sri Lanka Evan Papageorgiou. “During the mission, we will engage with the authorities and a broad range of stakeholders to discuss the recent economic developments, reform agenda and longer-term structural issues,” Papageorgiou said in a statement issued earlier, adding that the IMF would share its findings at the end of the visit.

The Seventh Review will be closely watched as it will determine Sri Lanka’s progress against the programme commitments. The Article IV Consultation, conducted alongside the programme review, will provide a broader assessment of Sri Lanka’s economic policies, risks and medium-term outlook. The IMF Executive Board in May completed the combined Fifth and Sixth Reviews of Sri Lanka’s EFF arrangement, unlocking about US $ 695 million and taking the total disbursements under the programme to around US $ 2.4 billion.

-Daily Mirror