First Deputy Managing Director Gita Gopinath will travel to Sri Lanka, Singapore, and Indonesia this week.
On June 16, she will participate in the Sri Lanka Road to Recovery Conference, where she will deliver the opening remarks. She will meet officials and various stakeholders during this trip in all three countries.
Director of the Communications Department, IMF Julie Kozack responding to a question on Sri Lanka at last week’s media briefing said on April 25, IMF staff and the Sri Lankan authorities reached Staff–Level Agreement on their fourth review of Sri Lanka’s economic reform program.
The program and Sri Lanka’s ambitious reform agenda continue to deliver commendable outcomes. Performance under the program remains strong overall, and the government remains committed to program objectives. Completion of the review is pending approval of the IMF’s Executive Board, and it is contingent on the completion of prior actions.
“What I can add is that our IMF team, of course, is closely engaged with the authorities to assess the measures that were recently announced by the regulator on June 11.
And these include a 15 percent increase in electricity tariffs and the publication of a revised bulk supply transaction account guidelines for this.
“These were two prior actions. When the review is completed by our Executive Board, Sri Lanka would have access to about $344 million in financing, and we will announce the Board date for Sri Lanka in due course,” Kozack said.
