President Anura Kumara Disanayake met virtually with IMF Managing Director Kristalina Georgieva to discuss strengthening the collaboration between Sri Lanka and the IMF. The dialogue underlined Sri Lanka’s progress in economic reforms, the importance of governance, and attracting foreign investment. Both parties committed to continued cooperation aimed at fostering sustainable growth amidst global uncertainties.
On Friday, President Anura Kumara Disanayake engaged in a productive virtual discussion with Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). The meeting centered on reinforcing the partnership between Sri Lanka and the IMF as the nation approaches the midpoint of its 48-month Extended Fund Facility (EFF), initiated in March 2023.
During their conversation, President Disanayake expressed gratitude for the IMF’s enduring support, particularly amid Sri Lanka’s recovery from the economic crisis of 2022. He recognized the notable advancements made through implementing economic reforms, enhancing macroeconomic stability, and bolstering governance. The President also acknowledged the invaluable assistance from the IMF during the debt restructuring process, underscoring the necessity of collaboration in navigating global economic challenges.
Ms. Georgieva congratulated the President on maintaining macroeconomic stability and completing the third review under the EFF, as well as progressing through the bond exchange and debt restructuring. She praised Sri Lanka’s proactive reform efforts and reaffirmed the IMF’s commitment to supporting the nation’s economic agenda, emphasizing the need for robust governance amidst ongoing global uncertainties.
Furthermore, President Disanayake reiterated his determination to advance the IMF program while aligning targets with the aspirations of the Sri Lankan populace. He highlighted the government’s commitment to uplift marginalized sectors and prioritize social welfare expenditures. The President also reiterated the importance of improving governance in state-owned enterprises and attracting foreign direct investment to mitigate debt vulnerabilities and foster sustainable development.
Looking forward, Ms. Georgieva stressed the importance of continuing the reform agenda to ensure long-term sustainable growth. She recognized that the path to recovery may be arduous, especially due to rapid changes in technology and geopolitics. The Managing Director reaffirmed the IMF’s role as a steadfast partner committed to supporting Sri Lanka as it seeks to reduce poverty and enhance citizens’ quality of life.
Both the President and the IMF Managing Director acknowledged the critical nature of continued dialogue and collaboration to achieve lasting stability in Sri Lanka. The meeting concluded with a reaffirmed commitment to work collaboratively toward a sustainable and prosperous future for the nation.
In summary, the dialogue between President Anura Kumara Disanayake and IMF Managing Director Kristalina Georgieva marks a significant step towards reinforcing the partnership between Sri Lanka and the IMF. The discussions highlighted ongoing economic reforms, commitment to governance, and the necessity of collaboration to address both local and global economic challenges. Moving forward, both parties are dedicated to ensuring sustainable growth and stability for Sri Lanka.
Original Source: island.lk
