IMF Managing Director Kristalina Georgieva has commended Sri Lanka’s progress in addressing economic challenges and implementing key reforms.
During a virtual meeting with Sri Lankan President Anura Kumara Dissanayake on 7th of March Georgieva expressed admiration for the country’s achievements, particularly in bond management.
“You have been very effective in dealing with bonds. That is a truly remarkable achievement. Bravo, Mr. President! Congratulations on what you have achieved,” she stated.
She acknowledged the global economic uncertainties and stressed the importance of domestic actions to strengthen Sri Lanka’s economy. Georgieva also praised the government’s commitment to reforms despite political changes.
President Dissanayake reaffirmed Sri Lanka’s commitment to the IMF program while ensuring alignment with public aspirations. He emphasized strengthening social safety nets, improving public expenditure efficiency, and reforming state-owned enterprises, particularly in the energy sector.
The meeting focused on enhancing Sri Lanka’s partnership with the IMF as the country reached the halfway mark of its 48-month Extended Fund Facility (EFF) agreement, initiated in March 2023.
President Dissanayake expressed gratitude for the IMF’s support during Sri Lanka’s 2022 economic crisis and highlighted progress in macroeconomic stability, governance, and support for vulnerable groups. He also emphasized the importance of completing the third EFF review and successfully concluding bond exchange and debt restructuring.
Georgieva congratulated Sri Lanka on its achievements and reaffirmed the IMF’s commitment to supporting its economic policies amid global uncertainties. She stressed the importance of macroeconomic stability, governance, and foreign investment in ensuring long-term sustainable growth.
Looking ahead, Georgieva urged Sri Lanka to stay committed to reforms and acknowledged challenges from global technological and geopolitical shifts. She reiterated the IMF’s support for Sri Lanka’s recovery, poverty alleviation, and inclusive development.
Both leaders agreed on the need for continued dialogue and cooperation to ensure a stable, prosperous, and resilient future for Sri Lanka.
