IMF staff concludes visit to Sri Lanka

The team of the International Monetary Fund (IMF) led by Evan Papageorgiou, the Mission Chief for Sri Lanka, which arrived in Colombo last week has concluded the visit to Sri Lanka.

The IMF team arrived in Colombo on 22 January to hold discussions on the impact of Cyclone Ditwah.

During the visit, the IMF team held meetings with President Anura Kumara Dissanayake, Prime Minister Dr. Harini Amarasuriya, Labor Minister and Deputy Minister of Finance and Planning Prof. Anil Jayantha Fernando, Governor of the Central Bank of Sri Lanka Dr. P. Nandalal Weerasinghe, the Secretary to the Treasury Dr. Harshana Suriyapperuma, Senior Economic Advisor to the President Duminda Hulangamuwa and other senior government and CBSL officials.

The mission also met with representatives from the private sector, civil society organizations, and development partners. 

At the conclusion of the visit, Evan Papageorgiou issued the following statement:

“During the mission, the team engaged with authorities and relevant stakeholders to understand the economic and social impact of the cyclone, including the damage to infrastructure and loss of livelihoods. Discussions focused on the fiscal response to the natural disaster, as well as on the implications for monetary policy and financial sector stability. Our meetings included in-depth exchanges on the authorities’ policy intentions going forward, their financing needs, and how the IMF can best support Sri Lanka’s recovery and reconstruction efforts under the Extended Fund Facility (EFF) arrangement.

“As Sri Lanka starts rebuilding, the authorities are committed to safeguard the gains that were achieved on fiscal and debt sustainability, strengthen public investment management including project reprioritization and implementation, and ensure spending is executed transparently and in compliance with the Public Financial Management Act. They are determined to continue strengthening social safety nets to protect the poor and vulnerable, who are disproportionately affected by the cyclone.

“We plan to field an IMF mission at the earliest possible juncture to resume discussions on economic policies for the next review under the EFF. We reaffirm our solidarity with Sri Lanka and readiness to support the country in its efforts to safeguard macroeconomic stability and promote resilience and sustainable growth.”