IMF Staff Statement on Sri Lanka

Washington, DC: At the 2022 Spring Meetings of the IMF and World Bank in Washington, DC, IMF Managing Director Kristalina Georgieva and other senior IMF management officials met with a Sri Lankan delegation, led by Finance Minister Ali Sabry and Central Bank of Sri Lanka Governor Nandalal Weerasinghe, and discussed policy actions to address economic challenges. The IMF team for Sri Lanka had initial technical discussions on an IMF-supported program with the delegation. Masahiro Nozaki, Chief of Mission for Sri Lanka, issued the following statement today:

“From April 18 to 22, the Sri Lankan delegation and the IMF team had fruitful technical discussions on the authorities’ request for an IMF-supported program. Discussions focused on recent economic and financial developments in Sri Lanka, the need to implement a credible and coherent strategy to restore macroeconomic stability and the importance of stronger social safety nets to mitigate the negative impact of the current economic crisis on the poor and vulnerable. The IMF team welcomed the authorities’ plan to engage in a collaborative dialogue with their creditors.

“Going forward, the IMF team will support Sri Lanka’s efforts to overcome the current economic crisis by working closely with the authorities on their economic program and engaging with all other stakeholders to support a resolution. quickly from the crisis”.

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