IMF Reviews Sri Lanka's USD200M Emergency Funding Request
Evan Papageorgiou, IMF mission chief for Sri Lanka, disclosed that the government formally sought financial assistance through the Rapid Financing Instrument (RFI) totaling 150.5 million Special Drawing Rights (SDR)—representing approximately 26% of Sri Lanka's IMF quota or roughly $200 million.
"This request is currently under consideration and subject to approval by the IMF's Executive Board," said Papageorgiou, according to the statement.
The cyclone unleashed widespread devastation across the island nation earlier this week, triggering acute humanitarian crises and severe economic disruption.
"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," Papageorgiou added.
The international lending institution pledged sustained engagement with Colombo during the recovery phase.
"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," the statement read.
The RFI mechanism exists specifically to deliver accelerated financial support to member nations confronting urgent balance-of-payments crises, including those triggered by natural catastrophes. Executive Board authorization remains mandatory before any capital can be released.
The human toll continues mounting. Sri Lanka's death count from Cyclone Ditwah has surged to 607, while 214 individuals remain unaccounted for since the storm made landfall November 17, the country's Disaster Management Center reported Friday.
Regional devastation extends beyond Sri Lankan borders. The UN confirmed at least 185 fatalities in southern Thailand, with 367 others still missing. India reported four deaths and Malaysia three amid the severe weather system's rampage across South and Southeast Asia.
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