The International Monetary Fund (IMF) is ready to support Sri Lanka in any way it wishes, a senior IMF official said on Thursday.
Sonali Jain-Chandra, deputy director of the IMF’s Asia and Pacific Department, told a press conference at the IMF meetings in Bangkok that Sri Lanka’s macroeconomic situation is “much improved”. She said fiscal performance was very strong, debt restructuring was largely complete and governance had improved.
Earlier this month the IMF reached a staff-level agreement with Sri Lanka on the seventh review of its Extended Fund Facility. Once completed, it would give access to about $345 million.
For Sri Lankans, the funding is tied to the stability of the rupee and the country’s ability to meet its external payments.
Jain-Chandra said the IMF board would consider the agreement in the coming weeks. Another review mission will take place before the programme expires in March, she said. The IMF will also continue to engage with the authorities, including through a possible new financial arrangement, she said.
