US ambassador nominee says sticking to IMF reforms key to unlocking American investment

• Nominee says sticking to IMF programme is a prerequisite for US companies to view Sri Lanka as a viable investment destination
• Pledges to support government in asserting full sovereignty over ports and infrastructure following questions on Chinese debt
• Suggests Colombo Port’s capacity growth presents significant opportunities for US logistics and shipping firms  

Eric Meyer, the nominee for United States Ambassador to Sri Lanka, has told a Senate panel that the island nation’s adherence to its International Monetary Fund (IMF) programme is critical for unlocking greater American investment. 

Testifying during his confirmation hearing before the Senate Foreign Relations Committee on Thursday, Meyer emphasised that economic reforms were necessary to assert Sri Lanka’s economic sovereignty. He noted that sticking to the IMF commitments would create the stability required for the US companies to view the country as a viable investment destination.

The hearing saw Meyer questioned by Senator James Risch regarding Sri Lanka’s strategic relationship with China. Risch described the Chinese-funded Hambantota Port as a “poster child” for the dangers of Chinese debt, labelling the experience a “bitter pill” for Sri Lanka. Meyer responded by pledging to support the Sri Lankan government in asserting sovereignty over its ports and infrastructure, advocating for an open and transparent bilateral relationship.

Meyer further highlighted that Colombo has expressed a clear intent to deepen ties with Washington. He pointed to the ongoing expansion at the Port of Colombo as a sign of resilience, suggesting that the port’s capacity growth presents significant opportunities for the US logistics and shipping firms. Successful implementation of economic reforms, Meyer argued, would not only ensure independence but also pave the way for strengthened trade ties and private sector engagement between the two nations.  (NF)