However, it said the overall macroeconomic and policy environment remains challenging. An International Monetary Fund (IMF) mission led by Messrs. Peter Breuer and Masahiro Nozaki conducted a staff visit to Colombo from May 11 to 23, 2023 to discuss recent economic developments and implementation of the Fund-supported program/

“During the visit, they discussed recent macroeconomic and financial sector developments. Following strong policy efforts, the macroeconomic situation in Sri Lanka is showing tentative signs of improvement, with inflation moderating, the exchange rate stabilizing, and the Central Bank rebuilding reserves buffers. However, the overall macroeconomic and policy environment remains challenging.

The IMF team welcomed the authorities’ ongoing efforts in meeting key commitments under the Fund-supported program. Performance under the program will be formally assessed in the context of the first review of the Extended Fund Facility arrangement, which is expected to be undertaken in September 2023. The mission discussed additional fiscal efforts that will be critical to ensure successful revenue mobilization.
The International Monetary Fund (IMF) staff mission says the macroeconomic situation in the country is showing tentative signs of improvement, with inflation moderating, the exchange rate stabilizing and the Central Bank rebuilding reserves buffers.