Sri Lanka Faces Tough Road Ahead Despite Economic Wins – IMF

Sri Lanka Faces Tough Road Ahead Despite Economic Wins – IMF

Krishna Srinivasan, Director of the Asia and Pacific Department of the International Monetary Fund (IMF), noted that Sri Lanka’s performance under the IMF-supported program has “been pretty good.”

“This is a program that the authorities have developed, and it is being supported by some IMF financing. Sri Lanka faced a difficult challenge when they embarked on this program. So far what we’ve seen is, performance under the program has been pretty good. That is reflected in the outcomes,” he said in reponse to a questioned raised by News 1st’s Zulfick Farzan.

However, he cautioned that the road ahead remains arduous, underscoring the necessity for steadfast adherence to the program to ensure a sustainable recovery from the crisis.

Addressing future imperatives, Srinivasan stressed the importance of maintaining momentum in fiscal adjustments and governance enhancements outlined within the program.

“The road ahead is not easy. There are my more things to be done. They’ve also moved on issues like governance and reducing corruption, which are part of the government’s program. But going forward, challenges remain. You have to stick to this program, so that you can make a durable exit, and the economy comes out of the crisis,” he stressed.

He expressed optimism regarding potential improvements, stating, “If the government continues adhering to the program, you will see much better results down the road.”