COLOMBO (News 1st) – Sri Lankan authorities held a virtual meeting with Sri Lanka’s official creditors agains on Friday (4).The meeting was chaired by the Secretary to the Treasury and the Ministry of Finance, K M Mahinda Siriwardana, and the Governor of the Central Bank of Sri Lanka, Dr.
Nandalal Weerasinghe.The meeting represents another important step towards securing International Monetary Fund (IMF) Board approval for Sri Lanka’s IMF program.Sri Lanka reached a Staff-Level Agreement with the IMF on a four-year program supported by the Extended Fund Facility on 1st September 2022.
The program, amounting to USD 2.9bn, is expected to restore macroeconomic stability and debt sustainability while protecting the vulnerable and safeguarding Sri Lanka’s financial system.
This agreement remains subject to IMF Executive Board approval.The IMF program has been centred around Sri Lanka’s ambitious reform program.