The first review of the three-year Extended Fund Facility (EFF) obtained by Sri Lanka has been successfully completed by the International Monetary Fund (IMF) and the second tranche to the value of SDR 119.894 million (approximately US $ 162.6 million) was disbursed on November 
18, 2016.
The EFF aims at supporting the balance of payments and the broad economic reform agenda of the government. 
“The IMF mission, that visited Sri Lanka in September, particularly welcomed the fiscal consolidation measures implemented by the government and tightening of monetary policy, which has contributed to improved market confidence and an easing of pressures on the external sector. 
The mission appreciated the efforts of the government and other institutions in achieving all quantitative performance criteria through end-June,” the Central 
Bank said.
The members of the IMF Executive Board also have expressed their satisfaction on the achievements of Sri Lanka under the ongoing EFF programme.
With the disbursement of the second tranche, a total of US $ 325 million has been received thus far by Sri Lanka on account of the EFF. 
Continuation of the EFF would help the country to boost market confidence, enhance competitiveness, strengthen external resilience and improve macroeconomic stability, thereby supporting the achievement of the medium-term growth trajectory.

FinMin says IMF confident of SL 

Having kept further confidence on Sri Lanka for moving its economy towards correct direction, the IMF has approved the second tranche of the proposed loan to Sri Lanka for 2016, Finance Minister Ravi Karunanayake said. 
Making a special statement to the media at the parliament complex on November 19, the minister announced the IMF decision.
The total loan expected to be granted to Sri Lanka by the IMF is US $ 1.5 billion and it will be released within three years.
US $ 325.2 was allocated for the year 2016 for Sri Lanka and the first tranche for US $ 162.6 was released last June. The IMF executive director board had approved the balance tranche of US $ 162.6 when they met at the IMF headquarters in Washington on November 18.