IMF's Role in Aiding Sri Lanka's Cyclone Recovery

An IMF team will visit Sri Lanka to assess the damage from Cyclone Ditwah. The visit aims to understand the cyclone's impact and explore recovery options, including policy advice and financial support. The cyclone caused significant damage, affecting millions and disrupting Sri Lanka's economy.

An International Monetary Fund (IMF) assessment team is scheduled for a crucial visit to Sri Lanka from January 22 to 28, as the country grapples with the aftermath of Cyclone Ditwah. The mission will explore the extent of damage and strategize support to propel recovery, sustain resilience, and ensure sustainable growth.

During the week-long engagement, the IMF team will conduct comprehensive discussions with local authorities concerning the toll on infrastructure, economic stability, and livelihoods. This initiative comes in response to extensive damage estimated at USD 4.1 billion, seriously affecting around 2 million people.

The IMF has committed USD 200 million to aid those recovery efforts, with potential for further support pending additional evaluations. Discussions will build upon the paused USD 2.9 billion bailout program, thereby reinforcing Sri Lanka's pathway to rehabilitation post-cyclone.

(With inputs from agencies.)