Central Bank Governor optimistic about IMF approval for Sri Lanka’s second tranche of extended fund facility

Central Bank Governor Dr. Nandalal Weerasinghe told journalists on Friday (24) that he was confident that the IMF would approve the second tranche of its Extended Fund Facility (EFF) in December 2023.

Dr. Weerasinghe said Sri Lanka was making good progress and he was confident that the official bilateral creditors, the Official Creditor Committee (OCC) and the Chinese Exim Bank will provide the necessary assurances soon for Sri Lanka to complete the first review.

The Chinese Exim Bank has already given its consent, he said.Dr. Weerasinghe said the OCC will also give its consent soon.Then the IMF will accept the first review and approve the second tranche, he said.

Addressing a press conference at the Central Bank, he said that following the first review and the approval, additional flows from ADB, World Bank, and IMF budget support would help the government with better financing measures.