IMF programme in SL showing signs of working – Breuer

IMF programme in Sri Lanka was showing signs of “working” and it was translating into real outcomes, Peter Breuer, IMF’s Senior Mission Chief for Sri Lanka said during a meeting with President Ranil Wickremesinghe at the Finance Ministry on Thursday (07), President’s Media Division (PMD) announced.

Breuer said that positive outcome was thanks to Sri Lankan authorities’ commitment to the programme and its implementation.

He added that it was heartening to see the economy starting to turn around.Earlier in the day, Sri Lanka’s State Minister for Finance, Shehan Semasinghe said the above meeting marks the IMF’s second review of the Extended Fund Facility (EFF) program for Sri Lanka.

Semasinghe said the government aims for a successful review and reach the staff-level agreement which will help unlock the third tranche of the IMF’s bailout package, about 337 million U.S. dollars.In March 2023, the IMF approved a 48-month extended arrangement under EFF of about 3 billion dollars to support Sri Lanka’s economic policies and reforms.