Sri Lanka meets IMF/WBG Top Ranks in DC

Colombo (News 1st): The Sri Lankan Delegation led by State Finance Minister Shehan Semasinghe kicked-off the IMF, World Bank Group Spring meetings with a productive bilateral discussion with Kenji Okamura, Deputy Managjng Director of the IMF.

Okamura had commended the Sri Lankan authorities on strong programme implementation and excellent reform progress.

He had emphasised the need to preserve the hard earned gains Sri Lanka has experienced since the beginning of the IMF programme and continue strong ownership.

State Minister Semasinghe, along with Governor of the Central Bank of Sri Lanka and Secretary to the Treasury, explained to Kenji Okamura the recent socio-economic developments and the authorities' commitment to ensuring continuity and consistency of macroeconomic policies and reforms undertaken under the programme.

Furthermore, the Sri Lankan authorities met with Dr. Krishnamurthy Subramanian, IMF Executive Director for India and Sri Lanka, on the sidelines of Spring Meetings.

They discussed the progress of debt restructuring as well as the next steps towards the finalisation of the 2nd Review of the IMF programme following the Staff Level Agreement that was reached in March 2024.

In addition, Parameswaran Iyer, the World Bank Executive Director for India and Sri Lanka, congratulated the Sri Lankan authorities on implementing the series of difficult reforms.

Iyer updated the Sri Lankan Delegation on the various internal restructurings within the World Bank and how these changes could benefit countries like Sri Lanka and assured fullest support to Sri Lanka.