The International Monetary Fund (IMF) team, led by Mission Chief Evan Papageorgiou, has concluded its visit to Sri Lanka. The team arrived in Colombo on January 22 to engage in discussions regarding the impact of Cyclone Ditwah.
During their stay, the IMF representatives met with key figures including President Anura Kumara Dissanayake, Prime Minister Dr. Harini Amarasuriya, Labor Minister and Deputy Minister of Finance and Planning Prof. Anil Jayantha Fernando, Governor of the Central Bank of Sri Lanka Dr. P. Nandalal Weerasinghe, the Secretary to the Treasury Dr. Harshana Suriyapperuma, and Senior Economic Advisor to the President Duminda Hulangamuwa, among other senior government and Central Bank officials.
The mission also engaged with representatives from the private sector, civil society organizations, and development partners to gain a comprehensive understanding of the situation.
At the end of the visit, Evan Papageorgiou issued a statement highlighting the key outcomes:
“During the mission, the team engaged with authorities and relevant stakeholders to understand the economic and social impact of the cyclone, including the damage to infrastructure and loss of livelihoods. Discussions focused on the fiscal response to the natural disaster, as well as on the implications for monetary policy and financial sector stability. Our meetings included in-depth exchanges on the authorities’ policy intentions going forward, their financing needs, and how the IMF can best support Sri Lanka’s recovery and reconstruction efforts under the Extended Fund Facility (EFF) arrangement.”
He further emphasized the commitment of Sri Lankan authorities to safeguard the progress made on fiscal and debt sustainability, enhance public investment management through project reprioritization and implementation, and ensure transparent execution of spending in compliance with the Public Financial Management Act. The government also aims to strengthen social safety nets to protect the poor and vulnerable, who have been disproportionately affected by the cyclone.
In conclusion, Papageorgiou stated, “We plan to field an IMF mission at the earliest possible juncture to resume discussions on economic policies for the next review under the EFF. We reaffirm our solidarity with Sri Lanka and readiness to support the country in its efforts to safeguard macroeconomic stability and promote resilience and sustainable growth.”
