News
IMF Executive Board finalises first EFF review of Sri Lanka
By Rathindra Kuruwita
IMF’s second review under the 48-month Extended Fund Facility (EFF) arrangement for Sri Lanka is expected to be completed by the end of the first half of 2024, IMF Senior Mission Chief for Sri Lanka, Peter Breuer, told journalists Wednesday morning.
Addressing the IMF’s Virtual Press Briefing on the First Review of Sri Lanka’s EFF Arrangement, he said an IMF delegation is to visit the country in March or April 2024.
On Tuesday night, the IMF’s Executive Board finalised the first EFF review of Sri Lanka.
The third review is expected to be held on or after October 01, 2024, Breuer said.
Breuer went on to say the key to transitioning from stabilidation to a full and swift recovery is sustaining reform momentum and strong ownership of reforms.
He urged Sri Lankan authorities to further advance revenue mobilidation, align energy pricing with costs, strengthen social safety nets, rebuild external buffers, safeguard financial stability, eradicate corruption and enhance governance.
He added that IMF staff would continue to assist Sri Lankan authorities with creditor coordination in line with its policies.
Earlier, the IMF Board completed Sri Lanka’s first review under the 48-month Extended Fund Facility, paving the way for the country to access 337 million U.S. dollars to support its economic policies and reforms.
The IMF said that Sri Lanka had met all but one indicative target at the end of June 2023.
Most structural benchmarks due by end-October 2023 were either met or implemented with delay, the statement said.
The IMF said Sri Lankan authorities have made commendable progress toward restoring debt sustainability, raising revenue, rebuilding reserve buffers, reducing inflation, and safeguarding financial stability.
A strong commitment to improving governance and protecting the poor and vulnerable remains critical, the statement read.
Sri Lanka’s agreements-in-principle with the Official Creditors Committee and Export-Import Bank of China on debt treatments are an important milestone, putting Sri Lanka’s debt on the path towards sustainability, the IMF said.
Sustaining the reform momentum is of paramount importance in steering the economy towards a sustained recovery and fostering stable, inclusive economic growth, said the IMF.
In March this year, the IMF approved a 48-month extended arrangement under EFF of about 3 billion U.S. dollars to support Sri Lanka’s economic policies and reforms.
With this, the total IMF financial support disbursed so far is about 670 million dollars, the IMF said.
Police urge motorists who intend to use the Ella – Wellawaya Road to use alternative roads as there is a severe vehicle congestion due to inclement weather condition.
The oil anointing ceremony for the Sinhala and Tamil New Year was held on April 16 at the historic Rajamaha Viharaya in Kolonnawa, with the participation of Prime Minister Dr. Harini Amarasuriya.
Following the chanting of pirith, the oil anointing ritual was carried out at the auspicious time of 9:04 a.m., by the Chief Incumbent of the temple, Venerable Kolonnawa Dhammika Thero.
Speaking after the ceremony the Prime Minister said that:
“The Sinhala and Tamil New Year is one of the most important festivities in our country. It is a celebration with our families, reflecting our traditions and customs while strengthening the ties.
This festival leads the path for renewing unity, love, and bonds stronger. These values enrich a country. Development of a country is not limited by one-dimensional; a true development includes spirituality, relationships, and connections. The reason why we uphold these customs in such ceremonies is to remind ourselves of the significance and to pass on their value to future generations.
Therefore, today marks a significant day. Throughout this week, we came together and engaged in various activities. Followed by, the next event will mark the leaving for employment at the auspicious time and we should start working collectively to rebuild the country.
I wish everyone a New Year that is prosperous, peaceful, joyful, full of strengthened relationships, and most importantly, safe for all.”
The ceremony was graced by the presence of the Maha Sangha, and attended by the Deputy Minister of Youth Affairs Eranga Gunasekara, Divisional Secretary to Kolonnawa Priyanath Perera, Municipal Secretary Nelum Kumari Gamage, and the residents of the area.
[Prime Minister’s Media Division]
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Heat Index at ‘Caution Level’ at some places in Northern, North-central, North-western, Western, Southern and Eastern provinces and in Rathnapura and Monaragala districts today [16]
Warm Weather Advisory Issued by the Natural Hazards Early Warning Centre of the Department of Meteorology for 16 April 2025
The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in Northern, North-central, North-western, Western, Southern and Eastern provinces and in Rathnapura and Monaragala districts.
The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.
Effect of the heat index on human body is mentioned in the table below and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.
ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated. Dress: Wear lightweight and white or light-colored clothing.
Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.
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