The International Monetary Fund (IMF) said that the dates for the third review under the Extended Fund Facility (EFF) programme with Sri Lanka will be announced in due course.
“The IMF EFF programme performance in Sri Lanka is strong and reform efforts are bearing fruit in terms of reviving the economic growth, lowering inflation, boosting reserves and improving revenue mobilization.”
IMF Communications Department Director Julie Kozack said this during the IMF Press Briefing held yesterday (4), in response to a question raised regarding the current status of the IMF EFF programme with Sri Lanka under the new administration of the recently elected President Anura Kumara Dissanayake. Kozack said that the current high-level IMF delegation led by IMF Director of the Asia Pacific Department, Krishna Srinivasan with Senior Mission Chief Dr. Peter Breuer and other senior IMF officials who are in Sri Lanka engaged in official discussions with President Anura Kumara Dissanayake and Sri Lankan officials appointed for the talks on the latest economic developments and the country’s economic reform objective, will communicate details on the discussion regarding the IMF programme in Sri Lanka once their visit concludes.
Sustaining the reform momentum is critical by the new administration in Sri Lanka as important vulnerabilities and uncertainties do remain, the IMF Communications Director said.
Significant progress in Sri Lanka’s debt restructuring process has been confirmed by the IMF with Sri Lanka and the international bondholder representatives reaching an agreement in principle on September 18, subject to confirmation of comparability by Sri Lanka’s Official Creditor Committee, Kozack said.
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