Sri Lanka Awaits IMF Review Amid Economic Reforms

Sri Lanka's second review of the IMF's Extended Fund Facility is scheduled for June 12. The government hopes for a successful review to access an additional USD 300 million, aiding economic reform efforts. Amidst a severe financial crisis and upcoming elections, political opposition grows against these reforms.


PTI | Colombo | Updated: 03-06-2024 15:01 IST | Created: 03-06-2024 15:01 IST
Sri Lanka Awaits IMF Review Amid Economic Reforms
AI Generated Representative Image
  • Country:
  • Sri Lanka

Sri Lanka's financial future is at a critical juncture, with the second review of the IMF's Extended Fund Facility scheduled for June 12. The cash-strapped island nation, seeking to unlock an additional USD 300 million, remains hopeful that the review will go smoothly.

Minister of State for Finance Shehan Semsinghe conveyed optimism about the review process, emphasizing the importance of continuous international support. 'We look forward to the continued support of all countries for a successful review,' Semsinghe stated.

In addition to the review, Sri Lanka's economic stability and reform efforts remain contentious topics. President Ranil Wickremesinghe's administration has implemented stringent economic reforms mandated by the IMF, prompting political opposition ahead of this year's presidential elections. Opposition groups argue that these reforms have adversely affected the general public.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback