IMF delegation to arrive in Sri Lanka next week to review economic progress

State Minister of Finance Shehan Semasinghe stated that a delegation of the International Monetary Fund (IMF) will arrive in Sri Lanka next week to review the country’s economic progress.

Speaking to the Media, the State Minister emphasized that following the completion of second review to release the third tranche of the IMF bailout package, the country must prepare for the third review.

However, he said that the discussions to be held with the IMF delegation next week is not related to the third review, but to focus on the country’s economic progress and future actions to be taken to strengthen the economy.

Semasinghe further stated: “Our expectation is to maintain the current stability and economic growth rate of 5.1% in the first quarter of this year throughout the year. Most forecasts expect 2% growth in the economy this year. But we expect it to be maintained between 3% and 3.5% this year.”

Furthermore, he emphasized that he hopes the election period will not hinder the growth of the economy, adding that then, the country will acquire an economic growth rate of 3.5% this year.