Sri Lanka’s State Minister of Finance, Shehan Semasinghe, has announced that the International Monetary Fund’s executive board will discuss the second review of the Extended Fund Facility and Article IV consultation today.
A positive review of the financing package programme is expected to unlock $330 million, bolstering confidence in Sri Lanka’s economic reforms. Meanwhile, Sri Lanka’s Government is also in the process of finalising debt restructuring agreements with bilateral partners. IMF’s Director of Communications, Julie Kozack, has expressed optimism regarding agreements with external commercial creditors. Addressing a press conference on the 7th of June, Ms. Kozack asserted that Sri Lanka has made sufficiently strong progress on the debt restructuring front.