The International Monetary Fund (IMF) Executive Board has approved the USD 7 billion Extended Fund Facility to Sri Lanka at its Board meeting today (19).

President Ranil Wickremesinghe is due to make a special statement on this tomorrow, the President's Media Division has announced.

President Wickremesinghe has expressed his gratitude for the support of the IMF and other international partners.

"The IMF Executive Board approved Sri Lanka’s program under the Extended Fund Facility (EFF) that will enable Sri Lanka to access up to $7 billion in funding. The President committed to full transparency in all discussions with financial institutions and creditors, and to achieve sustainable levels of debt through prudent fiscal management and an ambitious reform agenda. The IMF program is critical to achieving this vision and will help to improve Sri Lanka's standing in international capital markets, making it an attractive country for investors, talent, & tourists," the statement by The President's Media Division read.