Economic reforms have begun to show results:
Robust reserve accumulation commendable:
Finance State Minister Shehan Semasinghe told the Daily News that the second review of Sri Lanka’s Extended Fund Facility (EFF) from the International Monetary Fund (IMF) will begin in Washington today (12).
Semasinghe noted that this review would evaluate Sri Lanka’s economic reforms and their progress, and mentioned that the relevant measures have already been fully implemented by the Sri Lankan government.
The Minister expressed confidence that these discussions for the third tranche of the IMF facility will be successful.The IMF Executive Board would approve the disbursement of the third tranche, amounting to US$ 330 million to Sri Lanka.
Semasinghe highlighted the importance of the support of all countries for a successful review of the third tranche. He further explained that this tranche would be part of the IMF’s Extended Fund Facility for Sri Lanka.
Meanwhile, the IMF has acknowledged that Sri Lanka’s debt restructuring process has made substantial progress. Additionally, the economic reforms currently being implemented in Sri Lanka have begun to show results, with rapid economic growth, robust reserve accumulation, and stability in the financial system being noted as commendable outcomes.
