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US affirms support for SL security and sovereignty, backs IMF Bailout Programme

April 07, Colombo (LNW): In a recent telephone conversation between US National Security Advisor Jake Sullivan and Sri Lanka’s National Security Advisor Sagala Ratnayake, the United States expressed its unwavering support for Sri Lanka’s security and sovereignty, as well as its ongoing endeavors to fulfill the fiscal, monetary, and governance requirements of its International Monetary Fund (IMF) bailout programme.

The White House issued a succinct statement on Friday, outlining the key points discussed during the call.

According to the statement, Sullivan and Ratnayake delved into various aspects of bilateral engagement, with a particular emphasis on the United States’ commitment to bolstering Sri Lanka’s security and upholding its sovereignty.

Furthermore, the conversation touched upon Sri Lanka’s sustained efforts to meet the fiscal, monetary, and governance benchmarks outlined in its IMF programme.

Both parties explored future avenues for collaboration and cooperation, underscoring the importance of ongoing dialogue and partnership between the two nations.

The International Monetary Fund (IMF) recently announced on March 21st that it had reached a staff-level agreement with Sri Lanka, paving the way for the disbursement of US$ 337 million from the approximately US$ 3 billion bailout package approved in 2023.

Notably, two tranches of US$ 330 million each were already released in March and December 2023, highlighting the IMF’s continued support for Sri Lanka amid its fiscal challenges.

Moreover, the IMF commended Colombo for its efforts in implementing macroeconomic policy reforms, noting that these initiatives are beginning to yield positive results.

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