Sri Lanka’s reform program continues to move forward, with the International Monetary Fund’s (IMF) Executive Board set to consider the combined Fifth and Sixth Reviews under the Extended Fund Facility on Wednesday (May 27).
IMF Mission Chief for Sri Lanka, Evan Papageorgiou, said that over the past years, the authorities have made significant progress in restoring macroeconomic stability, rebuilding reserves, and strengthening confidence.
These efforts have been recognized by the public, investors, and stakeholders, and have helped place the economy on a firmer footing, he said.
“Recent global developments have brought renewed pressures, as is the case for many economies in a challenging external environment.”
“Navigating these shocks is never straightforward, but Sri Lanka’s policy framework today is considerably stronger than in the past,” he stressed.
The IMF Mission Chief highlighted that maintaining a consistent policy course and continuing to allow the economy to adjust to evolving conditions will be key to sustaining the gains achieved so far.
“We look forward to continued close engagement with the Sri Lankan authorities as the reform agenda advances,” he added.