IMF Executive Board to consider Sri Lanka’s fifth and sixth reviews this week

The International Monetary Fund (IMF) Executive Board is set to consider Sri Lanka’s combined fifth and sixth reviews under the Extended Fund Facility (EFF) this Wednesday (27). The crucial meeting comes as the country’s economic reform programme continues to move forward.

Providing an update on the programme’s status, IMF Mission Chief for Sri Lanka Evan Papageorgiou noted that the authorities have made significant progress over the past few years in restoring macroeconomic stability, rebuilding reserves, and strengthening market confidence. He highlighted that these ongoing efforts have been widely recognised by the public, investors, and key stakeholders, successfully placing the Sri Lankan economy on a much firmer footing.

While acknowledging that recent global developments have brought renewed pressures amid a challenging external environment, Papageorgiou emphasised that Sri Lanka’s current policy framework is considerably stronger than it was in the past. He stated that although navigating these external shocks is never straightforward, the strengthened framework equips the country to better handle such volatility.

To sustain the economic gains achieved so far, the Mission Chief stressed that maintaining a consistent policy course and continuing to allow the economy to adjust to evolving conditions will be essential. The IMF noted that it looks forward to continued close engagement with the Sri Lankan authorities as the national reform agenda progresses.