Sri Lanka President, IMF discuss economic recovery amid global challenges

Sri Lankan President Anura Kumara Dissanayake met with the visiting delegation from the International Monetary Fund (IMF), including First Deputy Managing Director Dr. Gita Gopinath, this morning (June 16) at the Presidential Secretariat in Colombo.

During the meeting, President Dissanayake expressed his gratitude to the IMF for its continued support in guiding Sri Lanka through its recent financial crisis.

Referring to the recent tariffs imposed by the United States, President Dissanayake highlighted that approximately 25% of Sri Lanka’s total exports are directed to the U.S., and that an increase in such tariffs could have a significant impact on the country.

He also discussed the challenges Sri Lanka faces due to ongoing global crises and the potential negative consequences stemming from them. Nevertheless, the President assured the IMF delegation that appropriate measures are being taken to manage these risks effectively and to minimize their impact.

Discussions also focused on Sri Lanka’s trade relations with the European Union, particularly the importance of the GSP+ trade concession, which provides access to EU markets for about 23% of Sri Lanka’s exports.

President Dissanayake emphasized Sri Lanka’s commitment to expanding investment opportunities and noted that restoring investor confidence is key to reviving the economy.

He reiterated that the current administration is people-centered and committed to moving the country forward in alignment with the public’s aspirations.

Dr. Gopinath thanked the President for the warm welcome received in Sri Lanka and noted that the strong public mandate given to the government in both the general and local elections provides the strength needed to implement essential reforms.

She acknowledged the country’s notable progress over the past two years, including a reduction in inflation from extremely high levels and signs of economic growth following a period of severe crisis.

She also commended the progress made in public sector reforms and emphasized the importance of sustaining and expanding these efforts.

Dr. Gopinath affirmed that the IMF remains a committed partner in Sri Lanka’s reform and recovery process.

Attendees at the meeting included:

• 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. Nandalal Weerasinghe
• Senior Economic Advisor to the President, Duminda Hulangamuwa
• Secretary to the Ministry of Finance, Planning, and Economic Development, Mahinda Siriwardana
• Senior Additional Secretary to the President, Russell Aponsu