Anura Dissanayake, the president of Sri Lanka, stated that the country hopes to sign a staff-level agreement with the International Monetary Fund by November 23.
Speaking at the first meeting of Sri Lanka’s tenth parliament on Thursday, President Dissanayake stated, “We hope to reach a staff level agreement with the IMF team in the island by November 23.”
According to the president, Sri Lanka would operate within the constraints of the IMF plan. “The economy needs to be handled very carefully”.
According to him, a budget would be submitted to parliament in February and approved by the middle of March 2025.
A budget that adheres to the guidelines of an IMF program is typically required.
According to him, the economy must be treated carefully since it cannot withstand many shocks.
By December, Sri Lanka aimed to complete the restructuring of its national bonds.
President Dissanayake claimed that there was no use in discussing whether a better agreement could have been achieved and that doing so would have taken more time. Bilateral creditors have also reached an agreement.
According to him, Sri Lanka also anticipated reaching these agreements with the bilateral creditors.
