IMF team visits Sri Lanka  Monday20 to  negotiate economic program

Date:

An International Monetary Fund (IMF) team will be  visiting  Sri Lanka on June 20-30  to continue discussions  on an economic programme till the end of this month.

It has reaffirmed its commitment to support the island nation during the ongoing economic crisis in accordance with the “IMF’s policies”, a spokesperson of IMF in Washington disclosed. .

The IMF will further conduct negotiations with the Central Bank authorities on its lending arrangement building on the progress made during the May 9-24 virtual mission,the spokes person added.

During their visit the team will hold discussions with the President and Prime Minister who is also the finance minister. 

Prime Minister Ranil Wickremesinghe is determined to finalise the staff level agreement during the visit, PMs office said

The IMF team concluded technical discussions on a comprehensive reform package on   May 25 to restore macroeconomic stability and debt sustainability in the country.

The team made good progress in assessing the economic situation and in identifying policy priorities to be taken going forward.

The discussions focused on restoring fiscal sustainability while protecting the vulnerable and poor; ensuring credibility of the monetary policy and exchange rate regimes; preserving financial sector stability; and structural reforms to enhance growth and strengthen governance.

Share post:

spot_imgspot_img

Popular

More like this
Related

Dairy Industry Slumps Despite Surging Demand  Milk Farmers Face Crisis

The Sri Lankan dairy industry is at a crossroads....

Exporters Urged to Prepare for New VAT Refund Regime

With Sri Lanka’s long-running Simplified VAT (SVAT) scheme now...

Economic Recovery Stalls as Policy Reversals Undermine Reform

Sri Lanka’s path to recovery remains woefully unfinished. While...

SL Construction Sector Gains Momentum, but Relief Delay Stalls Broad Recovery

Sri Lanka’s construction industry, long battered by economic turbulence,...