Sri Lanka President meets IMF chief in Colombo on recovery and growth

IMF Managing Director Kristalina Georgieva met Sri Lanka President Anura Kumara Dissanayake at the Presidential Secretariat in Colombo today (February 17) to discuss Sri Lanka’s economic recovery and the next phase of the IMF supported reform programme.

During the meeting, Georgieva expressed solidarity with Sri Lanka following recent natural disasters and noted that affected rural communities require continued assistance, particularly in housing, land rehabilitation and livelihood support. She also appreciated the Government’s response to support affected communities.

Discussions focused on how the International Monetary Fund can continue to assist Sri Lanka under the ongoing programme, which has helped restore macroeconomic and financial stability. Georgieva said the partnership between Sri Lanka and the IMF is expected to continue while efforts are made to improve growth and productivity.

She noted that Sri Lanka has experienced several major shocks in recent decades, including the civil war, the tsunami, terror attacks and the pandemic, which affected long term economic growth. She further observed that governance and anti corruption reforms provide an opportunity to strengthen economic progress.

The IMF Managing Director highlighted the importance of achieving higher growth, estimating that growth of around 7 to 8 percent would be necessary to meet public expectations. She also stressed the need to strengthen disaster preparedness through improved early warning systems, enhance institutional performance and implement the Governance Diagnostic Assessment, in which Sri Lanka is the first country in Asia to participate.

Agricultural productivity and rural economic transformation were also discussed. It was noted that a large share of the population is engaged in agriculture while contributing a smaller portion to the national economy, highlighting the need to improve productivity and expand employment opportunities in rural areas.

Cooperation with development partners including the World Bank and the Asian Development Bank in sectoral development and investment promotion was also discussed.

President Dissanayake welcomed the IMF Managing Director and appreciated the continued support extended to Sri Lanka during a period of severe economic hardship. He said international cooperation had helped stabilise the economy and improve living conditions, particularly for vulnerable groups.

The President also highlighted ongoing government efforts to rebuild the economy while addressing the immediate needs of the public, including resettlement and housing for families displaced by disasters and landslides, and improving access to basic services such as water, electricity and essential infrastructure in rural areas. He added that creating new economic opportunities beyond traditional agriculture remains a key priority.

The meeting reaffirmed the commitment of both Sri Lanka and the IMF to continue close cooperation aimed at maintaining economic stability, strengthening governance, promoting inclusive growth and improving resilience to future shocks.

Minister of Labour and Deputy Minister of Finance and Planning Prof. Anil Jayantha Fernando, Central Bank Governor Dr. P. Nandalal Weerasinghe, Deputy Minister of Economic Development Nishantha Jayaweera, Secretary to the President Dr. Nandika Sanath Kumanayake, Senior Economic Adviser to the President Duminda Hulangamuwa, Secretary to the Treasury Dr. Harshana Suriyapperuma, Secretary to the Ministry of Trade, Commerce, Food Security and Co operative Development K.A. Vimalenthirarajah and Senior Additional Secretary to the President Russell Aponso also participated in the meeting.