IMF considers US 200 million under Rapid Financing Instrument for Sri Lanka

The International Monetary Fund ( IMF) is considering Sri Lanka's request for US $ 200 million  under the Rapid Financing Instrument (RFI), according to Evan Papageorgiou, its Mission   Chief for Sri Lanka.

He said the request is currently under consideration and subject to approval by the IMF’s Executive Board.

"In the wake of the devastating impact and widespread destruction caused by Cyclone Ditwah, we extend our deepest sympathies to the people of Sri Lanka who have been profoundly affected by this disaster.

"The Sri Lankan authorities have requested financial assistance from the IMF under the Rapid Financing Instrument (RFI) for SDR 150.5 million (approximately 26 percent of quota or about US$200 million). This request is currently under consideration and subject to approval by the IMF’s Executive Board.

"The IMF remains closely engaged with Sri Lankan authorities during this challenging period; and is committed to supporting the country as it undertakes urgent efforts to recover, rebuild and promote resilience for the future," he said.