President Anura Kumara Disanayake and IMF MD Kristalina Georgieva engaged in a virtual discussion to strengthen cooperation between Sri Lanka and the IMF. The meeting reviewed progress on the IMF’s Extended Fund Facility, acknowledged economic reforms, and reinforced commitments to social welfare and governance reforms. Both leaders agreed on the importance of dialogue and ongoing collaboration to achieve long-term economic stability.
President Anura Kumara Disanayake conducted a productive virtual meeting with Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), to discuss the enhancement of the partnership between Sri Lanka and the IMF. This meeting occurred as Sri Lanka progresses through the halfway mark of its 48-month Extended Fund Facility (EFF), initiated in March 2023.
During their discussion, President Disanayake acknowledged the substantial support from the IMF in recovering from the severe economic crisis experienced in 2022. He noted the progress achieved in economic reforms aimed at stabilizing the macroeconomic environment and supporting vulnerable populations. Furthermore, he expressed gratitude for the IMF’s assistance during the debt restructuring process and emphasized the necessity of continued collaboration amidst global economic challenges.
Ms. Georgieva congratulated President Disanayake on ensuring macroeconomic stability and for successfully completing the third review under the EFF. She commended Sri Lanka’s strides towards key reforms and reiterated the IMF’s commitment to supporting the country’s economic objectives. In light of prevailing global uncertainties, she stressed the need for strengthening economic fundamentals alongside good governance frameworks.
The President reiterated his commitment to advancing the IMF program, ensuring that targets align with the aspirations of the Sri Lankan populace. He highlighted the government’s focus on enhancing social welfare and improving the governance of state-owned enterprises while also prioritizing foreign direct investment as a means to mitigate debt vulnerabilities.
Looking ahead, Ms. Georgieva urged the Sri Lankan government to persist in pursuing its reform agenda effectively. She acknowledged the ongoing challenges posed by rapid global technological and geopolitical changes and confirmed the IMF’s role as a steadfast partner in fostering inclusive growth and poverty alleviation in Sri Lanka.
Both leaders recognized the importance of sustained dialogue and cooperation to achieve long-term stability within the nation. The meeting concluded with a shared commitment to work collaboratively towards a prosperous and sustainable future for Sri Lanka.
The meeting between President Anura Kumara Disanayake and IMF Managing Director Kristalina Georgieva marked a significant step in reinforcing the partnership between Sri Lanka and the IMF. Both parties emphasized the necessity of continued reforms and ongoing support to ensure sustainable economic recovery amidst global uncertainties. The mutual commitment to enhancing collaboration reflects a focused approach toward achieving stability and improved welfare for the citizens of Sri Lanka.
Original Source: island.lk
