The International Monetary Fund (IMF) has expressed optimism about working with President Dissanayake and his administration to build on the progress Sri Lanka has made towards economic recovery. The country has been on a challenging path since facing one of its worst economic crises in 2022.
An IMF spokesperson stated, “We look forward to working together with President Dissanayake and his team towards building on the hard-won gains that have helped put Sri Lanka on a path to economic recovery since entering one of its worst economic crises in 2022.”
The IMF also welcomed the announcement of an agreement in principle between Sri Lanka and representatives of international bondholders. This agreement is subject to confirmation on comparability of treatment by Sri Lanka’s Official Creditors Committee.
Furthermore, the IMF plans to discuss the timing of the third review of the IMF-supported program with the new administration as soon as practicable.
Sri Lanka’s economic reform program, supported by the IMF, has been crucial in addressing the root causes of the crisis and setting the foundation for sustainable growth. The country has shown signs of recovery, with moderated inflation and positive economic indicators.