Optimistic about favourable IMF review outcome: Semasinghe

Colombo, June12 (Daily Mirror) - Sri Lanka is optimistic about a favourable outcome from the International Monetary Fund’s (IMF) second review, under the Extended Fund Facility (EFF), State Minister of Finance Shehan Semasinghe said. 

The IMF is set to evaluate the second review of the EFF along with the Article IV consultation for Sri Lanka at the IMF headquarters in New York, USA, today (June 12). 

“We remain optimistic that our international partners will continue to support Sri Lanka's efforts. A favourable outcome from the review is expected to unlock the third tranche of approximately US $ 330 million, which would further enhance confidence in our ongoing economic reforms and growth,” Semasinghe stated on X. 

Moreover, Sri Lanka is in the final stages of finalising its debt restructuring agreements with the bilateral partners, according to Semasinghe. 

The IMF too affirmed this week that Sri Lanka’s debt restructuring efforts have made “sufficiently strong progress”. 

The successful completion of the agreements and the anticipated release of funds are expected to provide the much-needed relief and stability to the nation's economy.