The International Monetary Fund (IMF) said on Thursday it stands ready to support Sri Lanka after the current programme ends, whether through new financing, policy advice or capacity development.
IMF Deputy Division Chief in the Asia and Pacific Department Sonali Jain-Chandra said the form of any future support would be decided in talks with the Sri Lankan authorities. She was speaking at a press conference in Bangkok, Thailand, during the annual meetings of the IMF and the World Bank Group.
Jain-Chandra said the macroeconomic situation had improved. “The revenue ratio has doubled. The debt restructuring is largely complete. Growth has been positive for 11 consecutive quarters,” she said.
She said requesting another programme would be a decision for the Sri Lankan authorities. The IMF said it wants the country to keep its macroeconomic stability and consolidate the reforms made so far.
For readers, the programme supports the government’s financing and the stability of the rupee, and its end date is March.
A staff-level agreement on the seventh review was reached in early October and is expected to go to the IMF Executive Board in the coming weeks. Another review mission is due before the programme expires.
