President Ranil Wickremesinghe today thanked the visiting delegation of the International Monetary Fund and all officials who were involved in discussions to reach a staff level agreement.
The President said the government looks forward to continuing discussions on IMF support for Sri Lanka including a comprehensive economic reform programme.
President Wickremesinghe said the road ahead will be difficult and vowed to make progress.
The President added it is the government’s commitment that matters at present.
The Head of State said the government must not only fulfil goals set forth but also surpass them.
President Wickremesinghe also noted that the government must orient itself to a new export economy enabling to sustain social services without fail.
The President claimed that he was born into a debt-free nation with a solid export economy headed by D.S. Senanayake.
President Wickremesinghe added with sufficient revenue to lend to the UK, which was recovering from an expensive war, Sri Lanka built the first reservoir entirely on its own from revenue reaped by exporting tea and rubber.
The IMF and Sri Lanka reached a staff-level agreement to support Sri Lanka’s economic policies with a 48-month arrangement under the Extended Fund Facility (EFF) of about US$2.9 billion.
The agreement was reached following talks between Sri Lankan authorities and an IMF team headed by Peter Breuer and Masahiro Nozaki.
An International Monetary Fund (IMF) mission led by Peter Breuer and Masahiro Nozaki visited Colombo from August 24 to September 1, 2022 to continue discussions on IMF support for Sri Lanka and the authorities’ comprehensive economic reform program.