May 10, 2023 7:57 PM

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IMF team to arrive in Sri Lanka for consultations on economic growth

An International Monetary Fund team will reach Sri Lanka tomorrow to hold regular consultations ahead of the first review mission later this year. The team, led by the head of IMF's Asia Pacific division, Krishna Srinivasan, will hold talks with key government officials and stakeholders from 11 to 23 May.<br />''<br />''At the recent IMF Economics Press Conference held at the Asian Development Bank Annual Meeting in Incheon, Republic of Korea, Mr. Srinivasan, expressed an upbeat forecast for Sri Lanka's economic growth. He projected a pickup in growth, starting from 1.5% in 2024.<br />'' <br />''Mr. Srinivasan emphasized that the IMF package would help tackle various challenges including macro stabilization, price stabilization, governance reform, and social safety nets. He added that the successful implementation of these reforms is crucial for Sri Lanka's path to recovery.<br />''<br />''<span style="color: #222222;">The visit of the IMF officials will provide valuable insight into the country's efforts to boost economic stability and growth. In March this year, IMF's executive board approved a bridge financing package of almost 3 Billion USD.</span><br />

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