IMF third review to be timed after Presidential Election

• An IMF mission team visited Sri Lanka from July 25 to August 2, 2024

The timing of the third review of IMF’s (International Monetary Fund) Extended Fund Facility (EFF) arrangement will be discussed with the government after the recently announced Presidential Elections, an official said. Progress in meeting key commitments under the IMF-supported programme will be formally assessed in the context of the third review of the EFF.   

An International Monetary Fund (IMF) mission team led by Senior Mission Chief Peter Breuer visited Sri Lanka from July 25 to August 2, 2024, to discuss recent macroeconomic developments and progress in implementing economic and financial policies under the authorities’ economic reform programme supported by the IMF. 

 
“The 2025 Budget needs to be underpinned by appropriate revenue measures and continued spending restraint so as to reach the medium-term primary balance objective of 2.3 per cent of GDP—a key requirement for restoring Sri Lanka’s debt sustainability. The planned relaxation of import restrictions on motor vehicles will support revenue mobilisation in 2025,” Mr. Breuer said. 

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