The International Monetary Fund (IMF) is set to conduct its first review of the Extended Fund Facility (EFF) program in Sri Lanka from September 14 to 27. 

This review will critically evaluate the program's performance, encompassing the period up to the end of June. The remarks came from Shehan Semasinghe, the State Minister of Finance, who expressed enthusiasm for the assessment and its potential outcomes.

Semasinghe highlighted the pivotal significance of the upcoming review, stating that its successful completion would position Sri Lanka favorably for a transformative shift from stabilization efforts to a growth-oriented trajectory, commencing from 2024 onwards.

The State Minister underlined that this transition could be a game-changer for the nation's economic landscape, potentially bringing about positive momentum and fostering a conducive environment for growth.

One of the most noteworthy aspects of the successful review would be the potential disbursement of approximately US$ 330 million, as articulated by Semasinghe. This substantial financial injection could play a pivotal role in bolstering the country's economic reforms and initiatives, which are meticulously outlined within the framework of the EFF program.

The funding is expected to provide much-needed support to propel these reforms forward, potentially catalyzing positive outcomes across various sectors of the economy.

The IMF's scrutiny during this review will be crucial in evaluating the effectiveness and progress of Sri Lanka's economic strategies. It will provide valuable insights into the implementation of the EFF program and shed light on areas of achievement, as well as those needing further attention.