Courtesy The Island The government of President Anura Kumara Dissanayake reaffirmed its readiness to collaborate with the International Monetary Fund (IMF) to advance Sri Lanka’s economic recovery within the context of the mandate. Senior Mission Chief Peter Breuer and the IMF delegation met with President Dissanayake and key ministers of the newly-formed government at the […]

Courtesy Adaderana The government of President Anura Kumara Dissanayake has reaffirmed its readiness to collaborate with the International Monetary Fund (IMF) to advance Sri Lanka’s economic recovery within the context of the mandate.  Senior Mission Chief Peter Breuer and the IMF delegation met with President Dissanayake and key ministers of the newly-formed government at the […]

Courtesy The Daily Mirror Dr. Nandalal Weerasinghe  The next review of the International Monetary Fund (IMF) will be delayed, the Central Bank confirmed on Friday. As reported by Reuters, Central Bank Governor Dr. Nandalal Weerasinghe while acknowledging the delay, did not give a timeline on when it would happen. It is unclear if the review […]

Courtesy Adaderana The International Monetary Fund (IMF) says Sri Lanka’s Third Review under the USD 2.9 billion Extended Fund Facility (EFF) programme, will be announced in due course.  Addressing a bi-weekly media briefing held in Washington DC, IMF’s Director for Communications Julie Kozack noted that vulnerabilities and uncertainties remain, meaning sustaining the reform momentum is critical […]

IMF bailout package Summary Since 2015, the Central Bank of Sri Lanka (CBSL) has enhanced its risk management through a comprehensive framework and is aiming for an Enterprise Risk Management system. Initiatives like the establishment of the Banking Risk Oversight Committee (BROC) and the Non-Financial Risk Management Committee (NFRMC) have been key in fostering higher-level […]

Courtesy Adaderana The International Monetary Fund (IMF) team visiting the island says it will continue its close engagement with Sri Lanka’s economic team to set a date for the third review of the IMF-supported program.  We are encouraged by the authorities’ commitment to continue the reform efforts,” the global lender’s Director for the Asia Pacific […]

Courtesy The Daily Mirror Colombo, October 04 (Daily Mirror)- The International Monetary Fund (IMF) said that the dates for the third review under the Extended Fund Facility (EFF) will be announced in due course. Addressing the IMF media briefing, Director of the IMF Communications Department Julie Kozack said a high-level team led by IMF Director […]

උපුටා ගැන්ම ලංකා සී නිව්ස් මෙරටට පැමිණ සිටින ජාත්‍යන්තර මුල්ලේ අරමුදලේ නියෝජිතයන් හා ජනාධිපති අනුර දිසානායක මහතා අතර විශේෂ හමුවක් අද ජනාධිපති ලේකම් කාර්යාලයේදී සිදුව තිබේ ජාත්‍යන්තර මූල්‍ය අරමුදලේ ආසියා පැසිෆික් දෙපාර්තමේන්තුවේ අධ්‍යක්ෂ ක්‍රිෂ්ණ ශ්‍රීනිවාසන් (Krishna Srinivasan),ජ්‍යේෂ්ඨ දූත මණ්ඩල ප්‍රධානී ආචාර්ය පීටර් බෲවර් (Dr. Peter Breuer) යන මහත්වරු ඇතුළු ජාත්‍යන්තර මූල්‍ය අරමුදලේ ජ්‍යේෂ්ඨ නියෝජිත පිරිසක් […]

Courtesy Adaderana The high-level delegation from the International Monetary Fund (IMF) visiting Sri Lanka met with President Anura Kumara Dissanayake at the Presidential Secretariat in Colombo today, the President’s Media Division (PMD) said. President Dissanayake reaffirmed commitment to IMF objectives and advocated for alternative solutions to ease the burden on people today, the President’s Media […]

උපුටා ගැන්ම ලංකා සී නිව්ස් ජාත්‍යන්තර මූල්‍ය අරමුදල සමඟ වන වැඩසටහනට අදාළව ජනාධිපති අනුර කුමාර දිසානායක මහතා ප්‍රමුඛ නව රජයේ ඉදිරි වැඩපිළිවෙළ පිළිබඳ සොයා බැලීමට ජාත්‍යන්තර මූල්‍ය අරමුදලේ (IMF) ඉහළ පෙළේ නියෝජිත පිරිසක් අද (02) මෙරටට පැමිණියහ. IMF වැඩසටහනේ ප්‍රගතිය සහ ඩොලර් බිලියන 2.9 ක විස්තීරණ අරමුදල් පහසුකමේ සිව්වන වාරිකය ලබා දීමට අදාළ සාකච්ඡා පැවැත්වීම […]

උපුටා ගැන්ම ලංකා සී නිව්ස් දේශීය ආදායම් දෙපාර්තමේන්තුවෙන් බලාපොරොත්තු වූ බදු ආදායම නොලැබීම නිසා රාජ්‍ය ආදායම අර්බුදකාරී තත්ත්වයකට පත්වීමේ අවදානම් තත්ත්වයක් උද්ගතව ඇතැයි මුදල් අමාත්‍යාංශයේ අභ්‍යන්තර ආරංචිමාර්ග සඳහන් කරයි. මේ වසර තුළදී දේශීය ආදායම් දෙපාර්තමේන්තුව, ශ්‍රී ලංකා රේගුව සහ සුරාබදු දෙපාර්තමේන්තුව ඉපැයිය යුතු සමස්ත ආදායම් ඉලක්කය රුපියල් බිලියන 4,127 කි. එම මුදලින් දේශීය ආදායම් දෙපාර්තමේන්තුව […]

Courtesy Adaderana A high-level delegation from the International Monetary Fund (IMF) arrived in Sri Lanka today (2) to engage with the newly formed government led by President Anura Kumara Dissanayake.  The primary objective of the visit was to initiate discussions on the progress of the IMF program and necessary steps towards the release of the […]

Courtesy The Daily Mirror The International Monetary Fund delegation addressing the media in Colombo Dissanayake is going to have to walk a tightrope. For a country and people that are going through the worst phase of dispossession since independence, international solidarity should mean providing space for rebuilding the country Sri Lanka is at a historic […]

Courtesy Adaderana A high-level team of the International Monetary Fund (IMF) led by its Director of the Asia Pacific Department, Krishna Srinivasan, is scheduled to visit Colombo from October 02 to 04 to meet with President Anura Kumara Dissanayake and Sri Lanka’s new economic team.  The high-level delegation is visiting the island to discuss latest […]

Ceylon Treasury

Courtesy The Daily Star Sri Lanka’s new president called on Wednesday for restarting talks with the IMF “immediately” over a $2.9 billion bailout that threw a lifeline to his bankrupt country but imposed painful austerity. Self-avowed Marxist Anura Kumara Dissanayake won a landslide last week promising to reverse steep tax hikes, raise public servant salaries […]

Courtesy The Daily Mirror Cololmbo, September 20 (Daily Mirror) –  In reference to Sri Lanka agreeing in principle on the restructuring of commercial debts (ISB), Chairman of Advocata Institute Murtaza Jafferjee said it was a game changer on the path to debt sustainability. He said there is a lot of political discourse on the need […]

Courtesy Adaderana Sri Lanka said it’s reached an agreement in principle with bondholders to restructure its $114 billion debt load, just days before the country heads for presidential elections. The government held restricted discussions with nine members of the steering committee of the ad-hoc group of bondholders between September 12th and 18th, it said in […]

Courtesy The Daily Mirror The International Monetary Fund (IMF) has cautioned that while Sri Lanka has made notable progress in its economic recovery, the nation is still vulnerable and must work to protect the hard-earned gains it has achieved so far, the President’s Media Division said. Speaking at an IMF press briefing on September 12, […]

උපුටා ගැන්ම ලංකා සී නිව්ස් ඉදිරි ජනාධිපතිවරයෙන් පසු පත්වන නව පාලනය සමඟ තම වැඩසටහන ඉදිරියට ගෙන යාමට සාකච්ඡා කිරීමට සූදානම් බව ජාත්‍යන්තර මුල්‍ය අරමුදල සඳහන් කරයි. ශ්‍රී ලංකාව මෙම වැඩසටහන මගින් සැලකිය යුතු ජයග්‍රහණ අත්කරගෙන ඇති නමුත් අර්බුදයෙන් ගොඩ ඒමට මෙම ජයග්‍රහණ ආරක්ෂා කර ගැනීම වැදගත් බව ද එම අරමුදල කියා සිටී. ජාත්‍යන්තර මුල්‍ය අරමුදලේ […]

Courtesy Adaderana The International Monetary Fund (IMF) says that the timing of Sri Lanka’s Third Review under the Extended Fund Facility will be discussed with the government following the elections and that they will move forward with program discussions after the country’s presidential election. Responding to questions during the weekly press briefing, the Director of […]

Courtesy Adaderana The National People’s Power presidential candidate Anura Kumara Dissanayake reiterated that the conditions of the International Monetary Fund (IMF) are not unfavourable to the country. Joining a business community conference held in Colombo, Dissanayake reassured that an NPP government will uphold the current agreement with the IMF. Now all the international relations of […]

Courtesy Hiru News Dr. Nandalal Weerasinghe, the Governor of the Central Bank of Sri Lanka, has cautioned that political or social uncertainties, or reversals of recent achievements, could significantly disrupt the country’s economic reform agenda. He warned that such disruptions could lead to deviations from the planned policy trajectory, potentially resulting in severe and lasting […]

IMF Communications Department Sri Lanka, Colombo – August 2, 2024: An International Monetary Fund (IMF) mission team led by Senior Mission Chief Mr. 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 program supported by […]

by Ifham Nizam Courtesy The Island Dr. Ahilan Kadirgamar ‘On a research project on debt restructuring and economic recovery of Sri Lanka following the default in April 2022, I have found that the IMF program is further aggravating the crisis. The IMF’s Debt Sustainability Analysis, with targets such as, a primary budget surplus of 2.3% […]

Charles Abugre and Fellow Eminent Economists Courtesy Networkideas.org There should be a change of orientation in dealings with the IMF and Sri Lanka’s creditors. The aim must be to protect the living standards of the people and to promote the growth of the economy in ways that expand incomes, create good-quality jobs, and improve the […]

Courtesy Adaderana President Ranil Wickremesinghe has announced that the debt restructuring process will include USD 5 billion in loan interest relief from bilateral creditors and a USD 3 billion debt write-off from commercial creditors providing the country with a total relief of USD 8 billion. Wickremesinghe revealed this while addressing the ‘Urumaya’ Freehold Land Deed […]

Courtesy hurriyetdailynews Sri Lanka‘s private creditors have accepted a 28 percent haircut on $12.5 billion in sovereign bonds, the government announced on Thursday, meeting a key condition of an IMF bailout. After two days of talks in Paris with most international sovereign bond (ISB) holders, Colombo clinched the final step in restructuring private, bilateral and domestic debt. […]

Courtesy Adaderana (Bloomberg) — Sri Lanka and creditors reached agreement on the terms for a $12 billion bond restructuring, bringing the South Asian nation closer to completing its debt overhaul two years after it defaulted.  Bondholders and the nation agreed to a framework for a deal that includes notes linked to economic performance and a […]

Courtesy Kuwait Times COLOMBO: Sri Lanka will save $5 billion following the restructuring of its bilateral debt, much of which is owed to China, through slashed interest rates and longer repayment schedules, the president said Tuesday. The island nation defaulted on its foreign borrowings in 2022 during an unprecedented economic crisis that precipitated months of food, […]