IMF praises Sri Lanka’s economic progress at key talks with President

Sri Lanka’s economic progress under the IMF programme, including growth gains, better revenue management and stronger foreign reserves, was highlighted today as Sri Lanka President Anura Kumara Dissanayake met an IMF delegation in Colombo.

A visiting delegation from the International Monetary Fund met President Dissanayake at the Presidential Secretariat in Colombo today (April 2) to discuss Sri Lanka’s ongoing economic reform programme and progress under the IMF-backed Extended Fund Facility.

During the meeting, attention was given to Sri Lanka’s current position in relation to the fifth and sixth reviews of the IMF programme. The IMF delegation discussed with the President the latest developments and the progress made so far.

The IMF representatives praised the economic progress achieved by Sri Lanka under the present Government. They noted that the country has moved towards a more resilient economic position by meeting growth targets, improving revenue management and strengthening foreign reserves.

The talks also focused on how Sri Lanka could continue to move forward under the IMF programme without weakening the economic stability achieved up to now. It was noted that the ongoing conflict in the Middle East remains an external challenge that could affect Sri Lanka. However, the Government has been handling the situation carefully by taking measured decisions on fuel prices and the energy sector, while also ensuring relief is given to vulnerable groups.

Despite these outside pressures, the IMF delegation also appreciated the Government’s programme aimed at protecting economic progress while managing both the economy and the livelihoods of the people.

Responding to the IMF’s observations, President Dissanayake said Sri Lanka has met all targets set under the programme and has reached a position of relative stability. He also stressed the need to take all necessary steps to reduce the impact on the public.

The IMF delegation was led by Mission Chief Evan Papageorgiou. The delegation also included Martha Woldemichael, Enrique Flores Curiel, Dinar Prihardini, Ursula Wiriadinata, Ozlem Aydin, Yorbol Yakhshilikov, Klakow Akepanidtaworn and Manavee Abeyawickrama.

The discussions were attended by senior Sri Lankan officials, including Central Bank Governor P. Nandalal Weerasinghe, S. Jegajeevan of the Central Bank of Sri Lanka, Treasury Secretary Dr. Harshana Suriyapperuma, Deputy Treasury Secretary A. K. Seneviratne and Director General of Fiscal Policy M. K. C. Senanayake. Minister of Labour and Deputy Minister of Finance and Planning Anil Jayantha Fernando also took part in the meeting.

Senior Presidential Secretariat officials, including Senior Economic Advisor to the President Duminda Hulangamuwa and Senior Additional Secretary to the President G. M. R. D. Aponsu, were also present.

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