IMF Prioritizes Sri Lanka's Rapid Finance Request Post-Cyclone Ditwah

The IMF is prioritizing Sri Lanka's request for a Rapid Finance Instrument following Cyclone Ditwah's devastation. The natural disaster, which caused catastrophic floods and landslides, has left over 627 dead and millions affected. Emergency support from India and the U.S. are underway, amid IMF's efforts to swiftly approve financial aid.

The International Monetary Fund (IMF) is swiftly addressing Sri Lanka's request for a Rapid Finance Instrument due to the extensive damage caused by Cyclone Ditwah. The cyclone has resulted in catastrophic flooding and landslides, leaving the nation's infrastructure in tatters.

As the search for over 190 missing individuals continues, the Sri Lankan government is pressing for USD 200 million from the IMF outside its existing extended fund facility. Additionally, the IMF is preparing to release the sixth tranche of a USD 3.9 billion bailout by mid-December.

International aid has been mobilized, with the Indian Air Force launching Operation Sagar Bandhu, delivering crucial equipment and relief supplies. Meanwhile, a U.S. relief team has arrived to assist the devastating impact on over 2.1 million lives across the island nation.

(With inputs from agencies.)