IMF Considers USD 200 Mn Emergency Aid for Cyclone-Hit Sri Lanka

International Monetary Fund (IMF) Mission Chief for Sri Lanka, Evan Papageorgiou, issued a statement today addressing the impact of Cyclone Ditwah and the resulting financial request from the Sri Lankan government.

He began by extending the IMF’s sympathies to the population profoundly affected by the natural disaster: “In the wake of the devastating impact and widespread destruction caused by Cyclone Ditwah, we extend our deepest sympathies to the people of Sri Lanka who have been profoundly affected by this disaster.”

The statement confirmed that the Sri Lankan authorities have formally requested financial assistance from the IMF. This request is being made under the Rapid Financing Instrument (RFI) for SDR 150.5 million (approximately 26 percent of quota or about US$200 million). This request is currently under consideration and remains subject to approval by the IMF’s Executive Board.

Concluding his statement, Papageorgiou affirmed the IMF’s continued support for the country during this difficult time: “The IMF remains closely engaged with Sri Lankan authorities during this challenging period; and is committed to supporting the country as it undertakes urgent efforts to recover, rebuild and promote resilience for the future.”

Related: IMF Exploring Options for Further Support to Sri Lanka’s Recovery After Cyclone Devastation