IMF team is here to review fiscal data before next disbursement

By Sanath Nanayakkare

A team from the International Monetary Fund (IMF), led by the Senior Mission Chief for Sri Lanka Peter Breuer, will be in Colombo from November 17 to 23.The team will visit the country to conduct the third review of Sri Lanka’s economic reform programme supported by the IMF’s Extended Fund Facility (EFF), an IMF Spokesperson said.

Mr. Breuer will assess Sri Lanka’s economic policies, progress on ongoing reforms, and the implementation of previous agreements with the IMF.Upon successful completion of the review, the IMF is expected to release the next installment of the loan to Sri Lanka.

The IMF has approved a 2.9 billion dollar Extended Fund Facility for Sri Lanka over a 48-month period in tranches to help its economy recover from the economic crisis.

It is expected that the customary end-of-mission statement of the IMF will be made to the Sri Lankan media after the mission has given its formal feedback to the authorities.Analysts say it would be vital to see what recommendations the IMF would give the authorities if they observed any revenue shortfalls against the given benchmarks.