October 05, Colombo (LNW): The International Monetary Fund (IMF) announced that the dates for the third review of Sri Lanka’s Extended Fund Facility (EFF) programme will be disclosed in due course. According to Julie Kozack, Director of the IMF Communications Department, Sri Lanka’s performance under the EFF is strong, with reform efforts already showing positive outcomes, such as revived economic growth, reduced inflation, increased foreign reserves, and improved revenue mobilization.
Speaking at a press briefing on the 4th, Kozack responded to questions about the status of the IMF’s EFF programme under the newly elected President Anura Kumara Dissanayake. She emphasized that a high-level IMF delegation, led by Krishna Srinivasan, Director of the Asia Pacific Department, and Senior Mission Chief Dr. Peter Breuer, is currently in Sri Lanka for discussions with President Dissanayake and other officials on recent economic developments and reform objectives. The IMF will provide further details on these discussions once the delegation’s visit concludes.
Kozack stressed the importance of maintaining reform momentum under the new administration, noting that while progress has been made, vulnerabilities and uncertainties remain.
Additionally, significant progress in Sri Lanka’s debt restructuring was confirmed by the IMF. Kozack highlighted that Sri Lanka, along with international bondholder representatives, reached an agreement in principle on September 18, pending confirmation of comparability by the country’s Official Creditor Committee.
