May 22 (Citizen News) -The International Monetary Fund (IMF) says Sri Lanka’s reform programme continues to move forward, with the IMF Executive Board scheduled to consider the combined fifth and sixth reviews under the Extended Fund Facility (EFF) on May 27.
In a statement, IMF Mission Chief for Sri Lanka Evan Papageorgiou said Sri Lankan authorities have made significant progress over the past few years in restoring macroeconomic stability, rebuilding foreign reserves, and strengthening economic confidence.
He noted that these efforts have been recognised by the public, investors, and other stakeholders, helping place the economy on a firmer footing.
Papageorgiou also acknowledged that recent global developments have created renewed economic pressures, similar to challenges faced by many countries in the current external environment.
However, he said Sri Lanka’s policy framework is now considerably stronger than in the past, enabling the country to better navigate external shocks.
The IMF official stressed that maintaining a consistent policy direction and allowing the economy to continue adjusting to changing conditions would be important to sustain the progress achieved so far.
He further stated that the IMF looks forward to continuing close engagement with Sri Lankan authorities as the reform agenda advances.
