The International Monetary Fund (IMF) says the Sri Lankan Government remains committed to its Economic Reforms Programme objectives, bringing it closer to the next tranche of IMF funding.
The IMF’s Communications Department Director, Julie Kozack, said Sri Lanka’s ambitious reform agenda continues to deliver commendable outcomes and that performance remains strong overall.
“On 25 April this year, the IMF and Sri Lanka reached a staff-level agreement on the 4th review of Sri Lanka’s Economic Programme. Completion of the review is pending approval of the IMF’s Executive Board, and it is contingent on completing prior actions,” she said.
Julie Kozack further said the IMF team is also closely engaged with Sri Lankan authorities to assess measures recently announced by the electricity regulator on 11 June, which include a 15% electricity tariff increase and the publication of guidelines for a revised bulk supply transaction account.
“Both are prior actions. Once the review is completed by the IMF Executive Board, Sri Lanka will have access to around US$ 344 million in financing. The IMF will announce the board date in due course,” she added.
The IMF’s Communications Department Director made the remarks while addressing the weekly press briefing held yesterday. (Newswire)