The Sri Lankan government has reached an agreement with the International Monetary Fund (IMF) to proceed with its US$ 3 billion Extended Fund Facility (EFF) programme, consenting to adjustments while adhering to the programme’s main “guardrails.”
Despite the landslide mandate secured by the new government, IMF Senior Mission Chief Peter Breuer noted that the challenges facing Sri Lanka remain unchanged.
“Regrettably, challenges in Sri Lanka haven’t gotten less despite the change in the government,” Breuer said, referring to the country’s efforts to recover from the severe economic crisis it faced in 2022.
Breuer made these comments while addressing the end of mission press conference held on Saturday.