The International Monetary Fund (IMF) has stated that it is ready to negotiate with Sri Lanka’s new administration after the upcoming presidential election to continue its economic recovery program. Despite the progress made, the IMF emphasized that Sri Lanka remains in an economic crisis, and protecting the gains achieved is vital for the country’s recovery.
IMF Communications Director Julie Kozak, speaking at a press conference, highlighted the significant improvements under the current IMF program, including reduced inflation and increased foreign reserves. However, she stressed that these positive outcomes must be maintained.
“The progress is strong—economic reforms are yielding results, inflation is declining, and international reserves are growing. However, risks remain, and sustaining reforms is essential,” Kozak explained.
She also clarified that the IMF does not directly participate in debt restructuring negotiations, which are conducted between creditor nations and the country in question. The IMF’s role is limited to assessing debt sustainability.
Kozak concluded by emphasizing that the upcoming presidential election is for the Sri Lankan people to decide, but achieving the goals of the IMF program remains a priority for the country to fully recover from its ongoing economic crisis.
