The Ceylon Chamber of Commerce has welcomed the approval of the fifth and sixth reviews under Sri Lanka’s International Monetary Fund (IMF) Extended Fund Facility (EFF) programme, describing the development as a key step in sustaining the country’s economic recovery amid growing external uncertainties.

The successful completion of the reviews will enable Sri Lanka to access approximately US$ 695 million in financing support, further strengthening foreign exchange reserves and reinforcing confidence in the country’s ongoing reform agenda.

In a statement, the Chamber said the IMF approval comes at a crucial time as Sri Lanka faces rising global uncertainty and external sector pressures linked to the escalating conflict in the Middle East. The Chamber noted that continued engagement with the IMF programme remains vital to preserving macroeconomic stability, restoring investor confidence and strengthening the country’s external sector resilience.

The Chamber said the IMF review also highlighted the need to sustain structural reforms aimed at improving the investment climate, enhancing competitiveness and accelerating infrastructure and institutional reforms to support private sector-led growth.

Referring to recommendations previously submitted to the Government following the onset of the Middle East crisis, the Chamber said those proposals remain highly relevant in addressing emerging pressures on the exchange rate, energy costs and overall external sector stability.

Among the key measures reiterated by the Chamber was the need to strengthen and optimise the fuel QR system as a digital platform to improve efficiency and facilitate better targeted support for priority groups such as public and school transport operators, while maintaining cost-reflective fuel pricing principles.

The Chamber also stressed the importance of maintaining clear and consistent communication on economic policy direction in order to reinforce business and investor confidence, support orderly exchange rate expectations and reduce market uncertainty.

In addition, the Chamber emphasised the importance of accelerating reforms to improve Sri Lanka’s competitiveness in trade, investment, tourism, logistics and digitalisation, noting that such measures would be essential to sustaining macroeconomic stabilisation and long-term resilience.

The Chamber said it had also urged its members to act responsibly during the current period of economic uncertainty by supporting measures aimed at preserving economic stability and safeguarding Sri Lanka’s long-term interests.

Reaffirming its support for the reform process, the Ceylon Chamber said it remained committed to working closely with policymakers and other stakeholders in advancing progressive economic reforms, ensuring the successful completion of future IMF programme reviews and supporting Sri Lanka’s transition towards a more resilient and competitive economy.