The International Monetary Fund (IMF) officials will be here in Colombo next week to re-discuss on the fifth tranche of the US$ 1.5 billion three-year Extended Fund Facility (EFF), which was postponed due to the October 26 political crisis in the country.
The IMF’s EFF, approved on June 3, 2016 for the 2016 to 2019 period aims at supporting the Balance of Payments and the broad economic reform agenda of the Government of Sri Lanka. Under the fifth tranche, the IMF is expected to disburse US$ 252 million.
The total loan is expected to have been disbursed through seven tranches by mid 2019.
Finance and Mass Media Ministry Secretary Dr. R.H.S.Samaratunge said the IMF had already disbursed US$ 759.9 million under the EFF through four tranches.
According to him, the government was to discuss with the IMF on the fifth tranche on October 29 last year. But, the IMF had not participated in the discussions due to the absence of an acceptable government in the country during that period.
“However, with the reappointment of the previous government to the power, we had discussions with the IMF Managing Director and accordingly, the IMF officials will be here on February 15”, he added.
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