Minister of Labor and Deputy Minister of Finance and Planning, Anil Jayantha Fernando, expressed confidence that the sixth and seventh installments of the International Monetary Fund (IMF) credit facility will be released almost simultaneously. He explained that the fifth review related to the sixth tranche and the sixth review for the seventh tranche, both postponed due to Cyclone Ditva, will now be conducted expeditiously, allowing the country to receive both tranches at once.
The fifth review was originally scheduled for December 15 last year but was delayed until early 2026 due to the cyclone. The sixth review is expected to be held in the middle of this year. Minister Fernando emphasized that both reviews will be prioritized to facilitate the simultaneous disbursement of the sixth and seventh tranches.
The IMF had approved a four-year, US$2.9 billion credit facility on March 22, 2023, to support Sri Lanka’s recovery from the severe economic crisis of 2022. The first tranche of $330 million was disbursed on March 20, 2023, followed by the second tranche of $337 million on December 12, 2023, the third tranche of $336 million on June 12, 2024, the fourth tranche of $334 million on February 28, 2025, and the fifth tranche of $350 million on June 1, 2025.
Minister Fernando also announced that Kristalina Georgieva, Managing Director of the IMF, is scheduled to arrive in Sri Lanka on Monday, February 16, for high-level discussions. She is expected to meet with the Minister of Finance and Economic Development, President Anura Kumara Dissanayake, Prime Minister Dr. Harini Amarasuriya, and senior officials from the Ministry of Finance and the Central Bank to review the upcoming tranches and accelerate the approval process.
