Sri Lanka commences IMF second review

Sri Lanka
By Editor_1

COLOMBO – Sri Lanka has commenced the second review of the International Monetary Fund (IMF), State Minister of Finance Shehan Semasinghe said.

“The IMF 2nd review is commencing today (7), with an opening meeting scheduled with the President. This marks an important milestone in our ongoing efforts to enhance stability and economic growth,” Semasinghe wrote on the social media platform X (Twitter).

“We expect to conclude a successful review and reach the staff-level agreement which will pave the way for accessing the third tranche. This will accelerate our growth trajectory, fostering increased confidence in the economy,” he added

In December, the IMF approved the release of 337 million US dollars to Sri Lanka under the first review of its program and called for quick implementation of debt agreements reached with official creditors.

At the time, all performance criteria except one of expenditure arrears were met.

Sri Lanka is now imposing new taxes to boost revenues, to maintain the state and reduce the deficit.

-economynext.com

 

Editor_1
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