By: Isuru Parakrama
November 18, Colombo (LNW): The International Monetary Fund (IMF) team, arrived yesterday (17) led by Senior Mission Chief Peter Breuer, began its programme today (18) with discussions at the Central Bank of Sri Lanka (CBSL).
The meetings come at a pivotal time for Sri Lanka, as the nation seeks to stabilise its economy after a debilitating financial crisis.
Following the discussions with CBSL, the IMF team is scheduled to meet President Anura Kumara Dissanayake and key ministers from the newly-formed government.
These high-level talks aim to assess the progress of reforms under the IMF’s Extended Fund Facility (EFF) and chart the next steps in the recovery process.
At the conclusion of their visit, the IMF delegation is expected to host a press briefing, providing updates on the third review of Sri Lanka’s economic reform programme.
If the review is deemed successful, the IMF is poised to release the next tranche of its bailout package, further bolstering the nation’s recovery.
The IMF had approved a $2.9 billion EFF for Sri Lanka in 2023, disbursing funds in tranches over a 48-month period. The programme aims to address deep-seated economic vulnerabilities through structural reforms and financial stabilisation.
To date, Sri Lanka has received over $1 billion under the arrangement.
