IMF to begin discussion on seventh review of EFF later this year

The International Monetary Fund (IMF) will commence discussion with Sri Lankan authorities on the seventh review of the Extended Fund Facility (EFF) arrangement later this year, IMF Mission Chief for Sri Lanka Evan Papageorgiou confirmed.Speaking at a briefing held in Colombo, IMF Mission Chief Evan Papageorgiou said a number of matters were discussed during the on-going interim visit to Sri Lanka by the IMF team.He said progress in meeting commitments under the IMF-supported program will be formally assessed in the context of the seventh review of the EFF arrangement in the upcoming mission.Evan Papageorgiou noted the Sri Lankan authorities’ prompt action amid the Middle East war helped preserve macroeconomic and social stability. He added sustaining reform momentum remains critical to navigating the shock while preserving fiscal and external sustainability and continuing efforts toward building resilience and delivering strong, durable and inclusive growth.