On October 7, President Anura Kumara Disanayake and IMF MD Ms. Kristalina Georgieva held a virtual meeting focusing on enhancing Sri Lanka’s partnership with the IMF. The discussion centered on support for economic reforms, governance, and ensuring macroeconomic stability as the country progresses through its Extended Fund Facility arrangement. Both leaders emphasized ongoing collaboration to achieve a prosperous and sustainable future for Sri Lanka.
On Friday, October 7, President Anura Kumara Disanayake and IMF Managing Director Ms. Kristalina Georgieva had a productive virtual meeting aimed at strengthening the partnership between Sri Lanka and the International Monetary Fund (IMF). This discussion comes as Sri Lanka approaches the halfway mark of its 48-month Extended Fund Facility (EFF) arrangement, which commenced in March 2023.
During the meeting, President Disanayake expressed his gratitude for the IMF’s unwavering support in navigating the aftermath of the 2022 economic crisis. He noted the significant strides Sri Lanka has made in reform implementation, fiscal stability, and governance. The President acknowledged the invaluable assistance from the IMF’s Senior Management and staff during the recent debt restructuring process, emphasizing the need for continuous cooperation to ensure economic resilience amidst global uncertainties.
Ms. Georgieva commended the President on achieving macroeconomic stability and completing the third review under the EFF. She lauded Sri Lanka’s commitment to essential reforms and reaffirmed the IMF’s dedication to assisting the country’s economic objectives. Furthermore, she stressed the necessity of reinforcing macroeconomic fundamentals alongside good governance, especially in light of global economic challenges.
President Disanayake reiterated his commitment to advancing the IMF program while ensuring the targets reflect the public’s democratic aspirations. He emphasized the government’s focus on uplifting marginalized communities through enhanced social welfare initiatives and the improvement of state-owned enterprises’ governance and pricing strategies. The importance of attracting foreign investment and collaboration with multilateral partners was also highlighted, as it aims to mitigate debt vulnerabilities and foster sustainable growth.
Looking ahead, Ms. Georgieva underscored the importance of maintaining momentum on reform initiatives to guide Sri Lanka towards sustainable growth. She acknowledged the complexities posed by ongoing global changes in technology and geopolitics, reaffirming the IMF’s role as a steadfast partner committed to aiding Sri Lanka in achieving inclusive growth and improved living standards for its populace.
The virtual meeting concluded with a shared commitment to ongoing dialogue and cooperation that aims to establish long-term stability and prosperity for Sri Lanka, reflecting both leader’s mutual dedication to a brighter future for the nation.
The meeting between President Anura Kumara Disanayake and IMF Managing Director Ms. Kristalina Georgieva highlights a focused effort to solidify the partnership between Sri Lanka and the IMF. Key areas of discussion included continued economic reform, improving governance, and securing foreign investments. Both leaders reaffirmed their commitment to collaborative efforts aimed at achieving macroeconomic stability and enhancing the quality of life for the Sri Lankan people, underscoring a path toward sustainable economic growth.
Original Source: island.lk
