President Dissanayake holds talks with IMF chief on Sri Lanka’s economic progress

Sri Lankan President Anura Kumara Dissanayake held a virtual meeting with IMF Managing Director Kristalina Georgieva on Thursday (March 7) to discuss Sri Lanka’s economic recovery and ongoing reforms under the IMF program.

The discussion came as Sri Lanka reached the halfway mark of its 48-month Extended Fund Facility (EFF) arrangement, which began in March 2023. President Dissanayake expressed his gratitude to the IMF for its support in helping the country recover from the severe economic crisis of 2022. He highlighted key achievements, including economic reforms, improved governance, and measures to protect vulnerable communities.

The President also acknowledged the IMF’s role in Sri Lanka’s debt restructuring and emphasized the need for continued collaboration to ensure economic resilience amid global uncertainties.

Ms. Georgieva praised Sri Lanka’s efforts in stabilizing the economy, completing the third review of the EFF, and successfully restructuring debt. She reaffirmed the IMF’s commitment to supporting Sri Lanka’s economic recovery and emphasized the importance of strong governance and macroeconomic stability.

President Dissanayake assured the IMF of the government’s dedication to completing the remaining program reviews while aligning reforms with the needs of the Sri Lankan people. He reiterated a focus on social welfare, improving governance in state-owned enterprises, cost-recovery pricing for electricity, and attracting foreign investments to reduce debt and drive sustainable growth.

Ms. Georgieva urged Sri Lanka to stay committed to its reform agenda to achieve long-term stability and inclusive growth. She reaffirmed the IMF’s continued partnership in supporting Sri Lanka’s economic transformation.

Both leaders agreed on the importance of ongoing cooperation to secure a stable and prosperous future for Sri Lanka.

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