The International Monetary Fund (IMF) states that the economic recovery is getting momentum in Sri Lanka which yet, the economy still remains susceptible, making it important that the reform momentum be sustained to make sure that macroeconomic stability and financial obligation sustainability are durably achieved.Speaking during the IMFs weekly press instruction, IMF Spokesperson Julie Kozack stated that the 4th tranche of $334 million was provided to Sri Lanka to support its financial policies and reforms, immediately after the Executive Board authorized the Third Review.On Friday, February 28th, the IMF Executive Board authorized the Third Review under the EFF (Extended Fund Facility) plan for Sri Lanka.
And this offered the country with instant access to $334 million of support.So, yes, when the Board authorized that Third Review, the $334 million was made available to Sri Lanka to support its financial policies and reforms.
And with this $334 million, it brings total financial backing from the IMF to Sri Lanka to $1.34 billion, Kozack confirmed.Furthermore, the IMF Spokesperson said that reforms in Sri Lanka are flourishing and that the financial recovery is acquiring momentum.She noted that inflation remains low in Sri Lanka, revenue collection on the fiscal side is enhancing, and international reserves are continuing to accumulate.Economic growth reached 5 percent in 2024, which sought 2 years of economic contraction, she added, highlighting that the IMF do anticipate the healing to continue in 2025 in Sri Lanka.These are all really favorable developments for Sri Lanka and for individuals of Sri Lanka, Kozack expressed.Meanwhile, the IMF Spokesperson likewise discussed: All of this said, the economy still does stay vulnerable, and therefore it is crucial that the reform momentum be sustained to make sure that macroeconomic stability and debt sustainability are durably achieved.In reaction to a concern raised by a journalist on the IMFs handle the proposal to list Sri Lankas State-Owned Enterprises (SOEs) in the Colombo Stock Exchange considered that the program likewise calls for comprehensive reforms in SEOs, Kozack rejected a comment, stating, I do not have anything for you on that concerning the SOEs, however well return to you bilaterally.