On Thursday, September 21, Minister of Power & Energy, Kanchana Wijesekera, engaged in constructive discussions with officials from the International Monetary Fund (IMF) and the World Bank concerning critical reforms in the energy and power sectors of Sri Lanka.
The meeting with IMF representatives, hosted at the Presidential Secretariat, primarily centered on assessing the progress of reforms and the implementation of cost-reflective pricing mechanisms within the electricity and energy domains. Additionally, discussions touched upon the advancements made in the “Aswesuma” welfare benefits program and the broader economic reforms undertaken by the Sri Lankan government.
The IMF delegation, led by Senior Mission Chief Peter Breuer, was joined by Chief of Presidential Staff Sagala Ratnayke, State Minister of Finance Shehan Semasinghe, Governor of the Central Bank Dr. Nandalal Weerasinghe, Secretary to the Ministry of Finance Mahinda Siriwardana, and officials from the President’s Office and Ministry of Finance.
This meeting coincides with the IMF team’s visit to Sri Lanka from September 14 to 27, marking the first review of the Extended Fund Facility (EFF) program for Sri Lanka, aimed at mitigating the ongoing economic crisis.
Simultaneously, the World Bank team, actively involved in supporting electricity sector reforms, visited the Ministry of Power and Energy. Their collaboration has been instrumental in facilitating reforms within the Ceylon Electricity Board (CEB), encompassing financial analysis, transfer plans, and legal frameworks.
During discussions, both parties explored the feasibility of establishing a communication platform to further reforms, the implementation of competitive bidding structures for renewable energy sources, and the provision of technical and financial assistance to enhance energy efficiency.
These dialogues exemplify the government’s commitment to addressing critical energy and power sector challenges with the support and expertise of international organizations like the IMF and World Bank.
