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The IMF said this ahead of the second review of its $2.9 billion relief program for the cash-strapped country. Julie Kozak, Director of the Communications Department of the International Monetary Fund (IMF), stressed in a press conference on Friday that Sri Lanka has made strong progress on the debt restructuring front.
Colombo. Sri Lanka’s macroeconomic reforms are starting to yield results and the country is expected to reach an agreement with external commercial lenders soon, the IMF said ahead of the second review of its $2.9 billion bailout programme for the cash-strapped country. International Monetary Fund (IMF) Communications Department Director Julie Kozak stressed at a press conference on Friday that Sri Lanka has made strong progress on the debt restructuring front.
Sri Lanka’s performance is strong, with most quantitative and structural conditions for the second review met or delayed, he said, adding that reforms are still ongoing in some areas. The second review of the IMF’s Extended Fund Facility under the US$2.9 billion bailout to Sri Lanka is scheduled for June 12. Kozak confirmed that the IMF’s Executive Board will meet to discuss the second review and Article-four consultations.
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