The first review of the International Monetary Funds Extended Fund Facility (EFF) for Sri Lanka is slated to commence today (Sept.
14).This review is a significant milestone towards securing the second tranche of and enhancing confidence in the island nations economic recovery, Finance State Minister Shehan Semasinghe, in a post on X (formerly Twitter).Successful completion of the first IMF review puts Sri Lanka in a strong position for economic recovery and sets a promising pathway for growth in 2024, he added.A delegation of the Washington-based global lender will arrive in Colombo today for the review which is scheduled to go on until September 27.Sri Lanka, grappled with its worst financial crisis in more than seven decades after its foreign exchange reserves depleted to record lows, managed to secure a bailout package of USD 2.9 billion in March 2023.