IMF Says Sri Lanka Is ‘On the Right Track’
The visiting IMF representatives have stated that there would be no changes to the agreement relating to the Extended Fund Facility programme being implemented with Sri Lanka, reported the President's Media Division on Wednesday (28).A meeting between representatives of the International Monetary Fund (IMF), who arrived in Sri Lanka to assess the damage caused by Cyclone Ditwah, and President Anura Kumara Dissanayake was held this morning (28) at the Presidential Secretariat.The representatives had noted that the disaster came at a time when the economy was gradually stabilising, making the impact even more difficult.However, they praised the Government for reacting quickly-providing urgent relief, repairing infrastructure, and restoring essential services.The delegation also commended Sri Lanka's strong fiscal discipline over the past year. They said the Government's ability to present a Rs. 500 billion supplementary estimate for recovery work was possible because of a Treasury surplus - something they described as a very positive development.According to the IMF, despite the disaster, Sri Lanka is heading in the right economic direction. They confirmed that the EFF agreement will continue without changes, and added that discussions on releasing the sixth tranche of funding will begin in March, said the PMD.Both the Sri Lankan Government and the IMF delegation agreed to continue implementing the existing EFF programme exactly as it is, without any amendments.Source: PMD
