IMF Lauds Sri Lanka For Strong Progress In Debt Restructuring
The macroeconomic policy reforms of Sri Lanka have started to give results, the IMF said recently ahead of the upcoming review of the lender’s $2.9 billion bailout programme for the crisis-hit country. The global financial body said that the island nation is expected to finalise agreements with external commercial creditors soon.
With regards to debt restructuring, Julie Kozack, Communication Department Director, IMF, stressed that Sri Lanka has ‘made sufficiently strong progress’. Speaking at a press conference on Friday, Kozack said, “We do see macroeconomic policy reform starting to bear fruit. Commendable outcomes include rapid disinflation, robust reserve accumulation, and initial signs of economic growth while preserving the financial system's sta...