Sri Lanka is likely to enter into another agreement with the International Monetary Fund (IMF), Deputy Minister of Finance Anil Jayantha Fernando has said.

The Deputy Minister made these remarks while participating in the special Derana 360 programme broadcast last night (12).

During the programme, Deputy Minister Fernando was questioned about the committee appointed to examine the need for a further IMF agreement and the country's foreign reserve position.

Responding, he said the committee was appointed at the last Cabinet meeting but had not yet convened.

He explained that the committee would assess Sri Lanka's position as the country prepares to move beyond the 17th IMF programme, which he described as having been successfully completed.

"The responsibility we have now is different from what we had previously. Earlier, the focus was on achieving economic stability. Now, we are preparing to take the next step," he said.

He added that Sri Lanka would continue engaging with the IMF and other international organisations, regardless of whether a special programme was in place.

However, he stressed that the country's specific needs must be carefully considered before deciding on the most appropriate course of action.

The committee is expected to submit its findings and recommendations to the Cabinet, which will make the final decision on the way forward.

When asked whether the appointment of the committee indicated a likelihood of Sri Lanka entering into another IMF programme, the Deputy Minister acknowledged that there was a possibility.

He agreed that there was a probability of Sri Lanka entering into another agreement with the IMF.