IMF set to review SL’s progress on June 12

The International Monetary Fund (IMF) Executive Board is set to review Sri Lanka’s progress, under the Article IV consultation and second review of the Extended Fund Facility, on June 12.
According to Finance State Minister Shehan Semasinghe, the “crucial session” will assess the country’s economic policies and reform advancements. 

“We anticipate the continued support of all the nations to ensure a successful review. Unlocking the third tranche will be pivotal in enhancing Sri Lanka’s economic stability, growth and ongoing reform efforts,” he said in an update on the social media platform X yesterday. 

Last week, Semasinghe said Sri Lanka is on track to finalise the external debt negotiations in time for the IMF to consider the next review of its economic stabilisation programme. 
While noting that the island nation has to open the second round of negotiations with the bondholders, he said that discussions are advancing on converting the in-principle agreements with the official creditors into memoranda of understanding.