IMF approves third review of Sri Lanka's 🇱🇰 $2.9 billion bailout

⭕️ Sri Lanka and IMF reach a staff-level agreement for the 3rd review under the $3B Extended Fund Facility (EFF), unlocking $333M upon approval by the IMF Executive Board.

⭕️The NPP government has wisely moved away from the overly ambitious rhetoric of during the election campaign, such as plans to renegotiate the IMF program. Instead, it has chosen a pragmatic and logical approach by agreeing to operate within the program's guardrails—a sensible and responsible decision for the country's recovery.

⭕️"The [Sri Lanka's] authorities have committed to staying within the guardrails of the programme,"

⭕️ "We [IMF] have agreed on a package for them to achieve their priorities and objectives and as soon as that is submitted to parliament it will then be possible to go ahead with the fourth review process."

- IMF Senior Mission Chief Peter Breuer

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