The International Monetary Fund (IMF) has expressed its positive outlook on collaborating with President Dissanayake and his administration to capitalize on the progress Sri Lanka has achieved in its economic recovery. The country has been navigating a challenging path since enduring one of its most severe economic crises in 2022.
An IMF spokesperson conveyed, “We are eager to collaborate with President Dissanayake and his team to further build upon the hard-earned advancements that have contributed to positioning Sri Lanka on a trajectory towards economic recovery since encountering one of its most severe economic crises in 2022.”
The IMF has also embraced the news of a tentative agreement between Sri Lanka and representatives of international bondholders. However, this agreement is contingent upon confirmation of comparability of treatment by Sri Lanka’s Official Creditors Committee.
Additionally, the IMF intends to engage in discussions regarding the timing of the third review of the IMF-supported program with the new administration at the earliest opportunity.
Sri Lanka’s economic reform program, bolstered by the IMF, has been instrumental in addressing the underlying causes of the crisis and establishing the groundwork for sustainable growth. The country has exhibited indications of recovery, with moderated inflation and favorable economic markers.
