IMF Rallies to Aid Cyclone-Stricken Sri Lanka

The IMF is actively supporting Sri Lanka post-Cyclone Ditwah, which has claimed over 450 lives, through the Extended Fund Facility arrangement. Staff are working on further assistance while assessing cyclone damage. The island nation anticipates drawing another tranche from the $3 billion IMF bailout despite challenges.

The International Monetary Fund (IMF) is intensively seeking ways to assist Sri Lanka following the catastrophic aftermath of Cyclone Ditwah, which has resulted in over 450 fatalities across the island nation. The IMF is committed to bolstering Sri Lanka's recovery and resilience through the Extended Fund Facility (EFF) arrangement.

Speaking at a press conference, IMF spokesperson Julie Kozack expressed sympathy for those affected and affirmed ongoing collaboration with Sri Lankan authorities and global partners to evaluate the severe humanitarian and economic impact. The IMF continues to facilitate discussions on supporting Sri Lanka's recovery efforts in coordination with development partners.

The nation faces severe flooding and infrastructure damage, with the IMF slated to deliberate on December 15 for further aid under its EFF program. Expected is the release of the sixth tranche of the nearly $3 billion bailout, crucial for addressing the estimated $6-7 billion damage and addressing calls from the government and opposition for additional relief.

(With inputs from agencies.)