Concluding its visit to Sri Lanka, 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.

CPC, CEB need to recover costs until end of Fund’s loan package

The Ceylon Petroleum Corporation (CPC) and Ceylon Electricity Board (CEB) had to recover costs until the end of the IMF programme, Sarwat Jahan, IMF Resident Representative in Sri Lanka, told a press conference in Colombo yesterday.

Sri Lanka has fulfilled only 25% of the commitments contained in the plan that it has submitted to the International Monetary Fund. However by the end of March 2023, t one major commitment has not been accomplished, an analysis of expert panel revealed

Dollar-strapped government will set the stage of economic recovery following the unlocking of US $2.9 billion International Monetary Fund (IMF) bailout loan by the end of this month with the executive board approval for reforms programme, State Finance Minister Shehan Semasingha confirmed.

The World Bank Group (WBG) and the International Monetary Fund (IMF) will host their Spring Meetings in Washington, DC, from April 10 to April 14.

The Government has been urged to effectively communicate the reforms intended to address via the International Monetary Fund (IMF) Extended Fund Facility for the broader population without limiting it to the English-speaking elite crowd in Colombo.

The Sri Lanka government has embarked on an ambitious initiative of commercializing seven State owned Enterprises (SOES) out of 52 entities kick starting restructuring process of these enterprises fulfilling commitment given to the International Monetary Fund (IMF), official sources disclosed

The government is set to set up an Irish-style implementation unit with special powers to implement mutually agreed targets and structural benchmarks of the International Monetary Fund within stipulated time lines.

The International Monetary Fund (IMF) bailout will help bring Sri Lanka’s depleted foreign exchange reserve to pre-crisis levels in four years, said the country’s central bank governor.

Former Finance Minister Ravi Kar-unanayake yesterday said Sri Lanka’s deal with the Inter-national Monetary Fund to unlock the $ 2.9 billion Extended Fund Facility (EFF) will be mainly building international reserves to meet external payments and support of macroeconomic adjustment and structural reform programs amidst economic and political crises. Karunanayake, who in 2019 effectively handled $ 1.5 billion IMF bailout deal to boost foreign exchange reserves and avert a balance of payments problem, noted that it will be a catalyst to generate additional international financial assistance in three ways