IMF agreement to Cabinet soon


The agreement with International Monetary Fund (IMF) will be presented to the Cabinet, the Opposition Leader, and the Chairs of the Committee on Public Accounts (COPA) and Committee on Public Finance (COPF), Acting Cabinet Spokesman Dr. Ramesh Pathirana said yesterday (13).

Dr. Pathirana refuted the claim that the Government is not being sufficiently transparent about the IMF agreement.

The Opposition demanded the agreement be tabled in Parliament last week during Parliamentary sittings.

Regarding the conversations between the IMF and the Government of Sri Lanka, he claimed there was no misrepresentation of the facts or any hidden proposition.

IMF staff and the Sri Lankan authorities have reached a staff-level agreement to support Sri Lanka’s economic policies with a 48-month arrangement under the Extended Fund Facility (EFF) of about USD 2.9 billion.

The objectives of Sri Lanka’s new Fund-supported programme are to restore macroeconomic stability and debt sustainability, while safeguarding financial stability, protecting the vulnerable, and stepping up structural reforms to address corruption vulnerabilities and unlock Sri Lanka’s growth potential, he added.

Dr. Pathirana made this statement yesterday (13), at the weekly press conference, at Government Information Department, to announce Cabinet decisions.