Sri Lanka is working to secure a staff-level agreement with the International Monetary Fund (IMF) by Thursday (9 April), President Anura Kumara Dissanayake told Parliament.

The President said IMF teams are currently in Colombo and discussions are ongoing. He noted that while previous negotiations were concluded locally, staff-level agreements were finalised in Washington DC, adding that the Government is seeking to complete the process within the country this time.

If the agreement is reached, Sri Lanka would be eligible to receive funding from the fifth and sixth IMF reviews, amounting to approximately $700 million by the end of May.

Dissanayake said the expected disbursement would help ease pressure on foreign reserves, which have seen slower growth due to ongoing debt-servicing commitments. He stressed that securing the IMF tranches would be critical to maintaining economic stability in the coming months.

Sri Lanka entered a four-year, $2.9 billion IMF bailout programme in 2023 following its worst economic crisis in decades. The Government expects the latest agreement to further strengthen confidence in its recovery trajectory.