Finance Ministry and CBSL hold virtual meeting with Sri Lanka’s official creditors

 

The Sri Lankan authorities held a virtual meeting with Sri Lanka’s official creditors today (November 03), the President’s Media Division said. 

The meeting was chaired by the Secretary to the Treasury and the Ministry of Finance, Mr. K M Mahinda Siriwardana, and the Governor of the Central Bank of Sri Lanka, Dr. P. The meeting represented another important step towards securing International Monetary Fund (IMF) Board approval for Sri Lanka’s IMF program,” the statement said. 

“Sri Lanka is at a critical stage, and we are seeking IMF program approval as soon as possible so that we can restore macroeconomic stability. The IMF program and our ambitious economic reforms will restore public debt sustainability, help protect the most vulnerable and restart our growth engine. 

“The IMF program and economic reform agenda will reconstitute Sri Lanka’s financial buffers. I thank the official creditors for joining this productive meeting where we were able to discuss Sri Lanka’s current financial position and progress on reforms.” 

The program, amounting to USD 2.9bn, is expected to restore macroeconomic stability and debt sustainability while protecting the vulnerable and safeguarding Sri Lanka’s financial system. The release further said IMF program has been centred around Sri Lanka’s ambitious reform program.