Ceylon Chamber congratulates govt. on staff-level deal with IMF

The Ceylon Chamber of Commerce yesterday congratulated the government led by the President, the Governor of the Central Bank of Sri Lanka, Secretary to the Treasury and other key officials on reaching a staff-level agreement with the IMF for a 4-year Extended-Fund Facility programme (EFF). 

“We hope that the next steps in gaining IMF board approval for the EFF programme and disbursement of financing will be done in a timely manner,” the chamber said in a brief statement.

“We are confident that such steps along with the debt restructuring process with both bilateral and commercial creditors moving forward in parallel will guide the economy back to a sustainable growth path, strengthen dollar reserves and reduce shortages in the economy,” it added.

The chamber assured its continued support to policymakers in implementing progressive reforms as announced in the recent interim budget such as those related to State-Owned enterprises, trade and financial sector, which are vital for a sustainable economic recovery.