The Executive Board of the International Monetary Fund (IMF) is scheduled to review the Sri Lankan government’s request for emergency financial assistance amounting to SDR 150.5 million (approximately USD 200 million) under the Rapid Financing Instrument (RFI) on Friday (19), according to the IMF Executive Board calendar.
The request follows the widespread destruction caused by Cyclone Ditwah last month, which severely affected several parts of the country, prompting the government to seek urgent financial support from the IMF.
Earlier this month, IMF Mission Chief for Sri Lanka Evan Papageorgiou stated that the Sri Lankan authorities had formally requested assistance equivalent to around 26 percent of the country’s IMF quota, noting that the request is subject to approval by the Executive Board.
In a statement issued on December 5, the IMF expressed its sympathies to the people of Sri Lanka affected by the cyclone and reaffirmed its close engagement with the authorities during the recovery period.
The IMF emphasized that it remains committed to supporting Sri Lanka’s efforts to recover, rebuild, and strengthen resilience, as the country implements urgent measures to address the economic and social impact of the natural disaster.
If approved, the RFI will provide Sri Lanka with rapid access to emergency financing to help meet immediate balance-of-payments needs arising from the cyclone-related shock.
