IMF Delegation Meets President and Parliamentary Leaders, Praises Economic Progress and Reviews Future Steps

IMF Mission Chief Evan Papageorgiou praised President Anura Kumara Dissanayake's LKR 100 billion relief package for vulnerable groups, which was introduced to mitigate impacts from the Middle East conflict. This statement was made at a press conference held at the Central Bank Headquarters in Colombo on April 9. Papageorgiou also highlighted potential impacts of the Middle East situation on Sri Lanka's import-export trade, tourism earnings, and foreign remittances. He further noted that Sri Lanka's state revenue has reached a successful level.

IMF Mission Chief Evan Papageorgiou emphasized that electricity tariff increases must be balanced with targeted protection for poor and vulnerable households. He stated this in the context of discussions with Sri Lankan authorities on managing the impact of rising prices, particularly those stemming from the Middle East conflict.

IMF Mission Chief Evan Papageorgiou announced that the International Monetary Fund's Executive Board is expected to consider the staff-level agreement for Sri Lanka's program towards the end of May or early June. This decision is contingent upon the completion and assessment of required prior actions, with two specific prior actions needing to be satisfied before the case can be formally presented to the Executive Board.