President Ranil Wickremesinghe has convened a meeting on Monday (March 11) with the leaders of accepted opposition parties in parliament and the visiting high-level delegation of the International Monetary Fund (IMF).
During the meeting, scheduled to be held at the Presidential Secretariat, the opposition party leaders will be offered the chance to discuss the IMF’s proposals with the delegates.
A team led by IMF’s Senior Mission Chief for Sri Lanka, Peter Breuer, is in Sri Lanka for the second review of the Extended Fund Facility (EFF) program for the island nation.
The review process kicked off on Thursday (March 07) with an opening meeting with President Wickremesinghe during which Mr. Breuer said the IMF program is exhibiting promising signs of efficacy, translating into tangible outcomes owing to the Sri Lankan authorities’ commitment to the program and its implementation.
He further expressed his satisfaction at witnessing the economy starting to turn around, underscoring the significance of this progress.
In response, President Wickremesinghe reiterated his government’s steadfast commitment to sustaining the momentum and advancing the nation’s economic agenda.
Finance State Minister Shehan Semasinghe told Ada Derana that the government aims to conclude a successful review by June and reach a staff-level agreement which will help unlock the third tranche of the global lender’s bailout package of USD 2.9 billion.
The IMF had previously said the second review of Sri Lanka’s bailout could be completed in the first half of 2024, provided it manages to meet debt restructuring and revenue targets set under the program.