Sri Lanka, IMF discuss future of credit program

A discussion between Sri Lanka President Anura Kumara Dissanayake and representatives of the International Monetary Fund (IMF) was held this morning (July 21) at the Presidential Secretariat in Colombo regarding the upcoming review of the Extended Credit Facility (ECF) between the IMF and Sri Lanka.

President Dissanayake noted that Sri Lanka has achieved a level of economic stability under the present administration and emphasized that, building on this foundation, the government is prepared to accelerate efforts to integrate the country into the global economy through sustainable growth and the pursuit of emerging economic opportunities.

The President also outlined the country’s current economic challenges and reiterated the importance of incorporating measures to ease the burden on the public in the 2026 Budget, despite these constraints.

The discussion further focused on facilitating investment through policy reforms and tariff concessions aimed at fostering an investor-friendly environment. The President expressed confidence that Sri Lanka would continue to benefit from the IMF’s support in ensuring long-term economic stability and consistency in policy direction.

President Dissanayake expressed his gratitude for the support extended by the IMF thus far and emphasized his commitment to ensuring that the benefits of the country’s economic growth are delivered to the people.

The IMF representatives commended the government’s commitment, under the President’s leadership, to advancing Sri Lanka’s economic progress and agreed to provide the necessary support to maintain economic stability and promote the country’s global advancement.

The IMF delegation included Mission Chief for Sri Lanka, Mr. Evan Papageorgiou, along with Mr. Sandesh Dhungana, Ms. Ursula Wiriadinata, Ms. Dinar Prihardini, Mr. Samson Kwalingana, and Ms. Ozlem Aydin. Resident Representatives Ms. Martha Woldemichael and Ms. Manavee Abeyawickrama were also present.

Sri Lankan officials in attendance included the Minister of Labour and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando; Secretary to the President, Dr. Nandika Sanath Kumanayake; Governor of the Central Bank of Sri Lanka, Dr. P. Nandalal Weerasinghe; Secretary to the Treasury, Dr. Harshana Suriyapperuma; Senior Additional Secretary to the President, Mr. Russel Aponsu; Senior Economic Advisor to the President, Mr. Duminda Hulangamuwa; Director General of the Department of Fiscal Policy, Dr. M.K.C. Senanayake; Senior Deputy Governor of the Central Bank of Sri Lanka, K.M.A.N. Daulagala; Alternate Executive Director of the Central Bank of Sri Lanka, Prof. P.K.G. Harischandra; Assistant Governor and Secretary to the Monetary Policy Board, Dr. C. Amarasekara; and Director of Economic Research at the Central Bank of Sri Lanka, Dr. J.S. Jegajeevan.