IMF says its talks with SL fruitful

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The International Monetary Fund said that it had fruitful technical discussions with the Sri Lankan delegation from 18-22 April on the IMF-support programme.

During the 2022, IMF and World Bank Spring Meetings in Washington, D.C., IMF Managing Director Kristalina Georgieva and other senior members of IMF management met a Sri Lankan delegation, led by Finance Minister Ali Sabry and Central Bank of Sri Lanka Governor Nandalal Weerasinghe and discussed policy actions to address economic challenges.

The IMF team for Sri Lanka held initial technical discussions on an IMF-supported programme with the delegation, said Masahiro Nozaki, mission chief for
Sri Lanka.

According to a statement from the IMF, the discussions covered recent economic and financial developments in Sri Lanka, the need for implementing a credible and coherent strategy to restore macroeconomic stability, and the importance of stronger social safety nets to mitigate the adverse impact of the current economic crisis on the poor and vulnerable.

The IMF team welcomed the authorities’ plan to engage in a collaborative dialogue with their creditors.

“Going forward, the IMF team will support Sri Lanka’s efforts to overcome the current economic crisis by working closely with the authorities on their economic programme and by engaging with all other stakeholders in support of a timely resolution of the crisis,” the agency said.

By Mario Andree