IMF’s first review of bailout program for Sri Lanka gets underway

The inaugural meeting for the International Monetary Fund’s first review of the Extended Fund Facility (EFF) program for Sri Lanka commenced in Colombo on Thursday (Sept. 14).

The inaugural meeting for the International Monetary Fund’s first review of the Extended Fund Facility (EFF) program for Sri Lanka commenced in Colombo on Thursday (Sept. 14).

In a statement, Finance State Minister Shehan Semasinghe said Sri Lankan officials are collaborating closely with the IMF team throughout this process to overcome the challenges ahead.

The Sri Lankan government is fully committed to establishing a sustainable economy, Semasinghe assured. “We recognize the importance of working closely with all multilateral institutions, development partners and our friendly nations. We wish to thank the IMF team for the support extended to Sri Lanka.”

Semasinghe notes that this review is a significant milestone towards securing the second tranche of and enhancing confidence in Sri Lanka’s economic recovery, adding that the successful completion of the first IMF review puts the country in a strong position for economic recovery and sets a promising pathway for growth in 2024.

A delegation of the Washington-based global lender is in Colombo for the review which will go on until September 27.