Home Market IMF ready to support Sri Lanka to overcome current economic crisis

IMF ready to support Sri Lanka to overcome current economic crisis

  • 24 Apr 2022
  • 0

The International Monetary Fund (IMF) today said it will support Sri Lanka’s efforts to overcome the current economic crisis by working closely with the authorities on their economic program, and by engaging with all other stakeholders in support of a timely resolution of the crisis.

During April 18–22, the Sri Lankan delegation and the IMF team had fruitful technical discussions on Sri Lanka’s request for an IMF-supported program.

Masahiro Nozaki, mission chief for Sri Lanka in a statement said the discussions covered recent economic and financial developments in Sri Lanka, the need for implementing a credible and coherent strategy to restore macroeconomic stability, and the importance of stronger social safety nets to mitigate the adverse impact of the current economic crisis on the poor and vulnerable.

The IMF team welcomed the authorities’ plan to engage in a collaborative dialogue with their creditors.

During the 2022 IMF and World Bank Spring Meetings in Washington, D.C., IMF Managing Director Kristalina Georgieva and other senior members of IMF management met with a Sri Lankan delegation, led by Finance Minister Ali Sabry and Central Bank of Sri Lanka Governor Nandalal Weerasinghe.

They discussed policy actions to address economic challenges. The IMF team for Sri Lanka held initial technical discussions on an IMF-supported program with the delegation.

  • Share