A delegation from International Monetary Fund (IMF) has arrived in Sri Lanka for conducting the third review of the island nation’s financing programme.

The team, led by IMF Senior Mission Chief, Peter Breuer, is expected to assess Sri Lanka’s economic policies, progress on ongoing reforms and the implementation of previous agreements with the IMF.

Upon successful completion of the review, the IMF is expected to release the next instalment of the loan to Sri Lanka.

IMF had approved a 2.9 billion dollar Extended Fund Facility available to Sri Lanka over a 48 month period in tranches to help its economy recover from the economic crisis.

The island had witnessed an acute Forex shortage in 2022 resulting in short supply of essentials which are imported by Sri Lanka.