The International Monetary Fund (IMF) has scheduled its Executive Board to meet today (May 27) to decide on the 5th and 6th reviews of Sri Lanka’s Extended Fund Facility (EFF) program.The decision could unlock approximately USD 700 million in additional financing for Sri Lanka.The Director of the IMF Communications Department recently said that several prior actions had to be completed before the program could be presented to the Board.

These included restoring cost-recovery pricing for electricity and fuel, while also ensuring protection for vulnerable groups, as well as completing the financing assurances review.