Friday, 15 September 2023 10:02

IMF’s first review of bailout program for Sri Lanka gets underway Featured

The inaugural meeting for the International Monetary Fund’s first review of the Extended Fund Facility (EFF) program for Sri Lanka commenced in Colombo on Thursday (Sept. 14) anidst mounting public protests against its anti conditions of high taxing and energy pricing conditions. .

However, Finance State Minister Shehan Semasinghe said Sri Lankan officials are collaborating closely with the IMF team throughout this process to overcome the challenges ahead.

The Sri Lankan government is fully committed to establishing a sustainable economy, Semasinghe assured. “”

Semasinghe notes that this review is a significant milestone towards securing the second tranche of and enhancing confidence in Sri Lanka’s economic recovery.

He added that the successful completion of the first IMF review puts the country in a strong position for economic recovery and sets a promising pathway for growth in 2024.

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