Statement from State Finance Minister Shehan Semasinghe
We wish to announce with great pleasure that the Executive Board of the IMF has approved the second tranche of the Extended Fund Facility. Our ambitious reform agenda carried out with the support of the IMF reached stability in the country within a short period of time.
Overcoming many challenges by politically motivated groups seeking narrow advantages.
Despite the economic hardships, we have been able to reach a reasonably comfortable economic zone. We are deeply grateful to people of Sri Lanka who have remained resilient and determined to overcome the challenges we faced over the last year.
We are grateful to the IMF for approving the second tranche of the Extended Fund Facility and the guidance provided to establish a credible and reliable financial framework in the country.
We are grateful to the cooperation of the official creditor committee led by India, Japan, France, the Paris Club members & China for agreeing in principle to the debt restructuring process by providing required financial assurances to obtain the second tranche of the EFF.
We will engage in good faith with private creditors to reach an agreement. Sri Lanka will continue to remain committed, determined & transparent in reaching economic reforms & it is the firm expectation that the commitment will ensure long-term economic sustainability.