IMF considers Sri Lanka's $200M emergency aid request after cyclone disaster

The International Monetary Fund (IMF) said on Friday that it is reviewing a request by Sri Lanka for $200 million in emergency financing following the devastation caused by Cyclone Ditwah.

Evan Papageorgiou, IMF mission chief for Sri Lanka, said in a statement that the government had applied for financial assistance under the Rapid Financing Instrument (RFI) totaling 150.5 million Special Drawing Rights (SDR), equivalent to about 26% of Sri Lanka's IMF quota or approximately $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, which brought widespread destruction to the island nation earlier this week, has led to significant humanitarian and economic challenges.

"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 IMF reaffirmed its commitment to the country's recovery and future resilience efforts.

"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 is designed to provide rapid financial assistance to member countries facing urgent balance-of-payments needs, including those stemming from natural disasters.

Approval from the IMF Executive Board is required before funds can be disbursed.

In Sri Lanka, the death toll from Cyclone Ditwah has risen to 607, with 214 people still missing since the storm struck on Nov. 17, the country's Disaster Management Center said in a report on Friday.

The UN said at least 185 people have died in southern Thailand, while 367 others remain missing. Four deaths were reported in India and three in Malaysia amid severe weather conditions.