News
IMF warns it is crucial for Sri Lanka to protect hard-earned achievements – meaning no deviation from agreed goals
The International Monetary Fund (IMF) on Thursday (12th) stated that although Sri Lanka has made significant progress, the country is not yet out of danger, and it is crucial to protect the hard-earned achievements.
Speaking at an IMF press briefing, Julie Kozack, Director of the Communications Department, emphasised that the upcoming elections are a matter for the Sri Lankan people to decide. “Achieving the programme’s objectives is a key priority to give Sri Lanka the opportunity to emerge from one of its worst crises in history.”
“On 12th June, our Executive Board completed the 2024 Article IV Consultation and the Second Review of the Extended Fund Facility (EFF) programme. This provided the country with access to approximately 336 million US dollars. The programme’s performance remains strong. Reform efforts are yielding results, economic growth is beginning to recover, inflation is declining, international reserves are increasing, and revenue mobilisation is improving. However, significant vulnerabilities remain, and maintaining reform momentum will be essential,” the spokesperson said.
Responding to a question regarding private creditors submitting their proposal for debt restructuring to the IMF, the spokesperson noted that the implementation of domestic debt restructuring and the finalisation of agreements with the official creditor committee and the China EXIM Bank are major milestones.
The IMF staff assessed the so-called joint working framework and provided an assessment of it to the Sri Lankan authorities. Furthermore, at the request of the Sri Lankan authorities, the IMF staff shared this assessment with the financial advisors of the country’s bondholders, she highlighted.
The spokesperson added, “That is the extent of our role in the debt process. I would like to stress that the IMF does not participate in negotiations for debt restructuring. These discussions take place between the member country and its creditors, while the IMF conducts an overall assessment of debt sustainability. I also refer you to a press release issued by the Sri Lankan authorities, which provides further details.”
With regards to a question on the debt sustainability assessment (DSA), the spokesperson reiterated that the upcoming presidential elections are for the people of Sri Lanka to decide. “From the IMF’s perspective, the programme has achieved significant progress, but it is vital to safeguard these gains to ensure the country fully recovers from one of its most severe crises.”
The timing of the Third Review will be determined in consultation with the government after the elections.
“We will resume programme discussions after the presidential elections have concluded and, depending on the choice of the people, we will be ready to proceed accordingly,” he added.
As part of the official visit to London for the 43rd Commonwealth of Learning (COL) Board of Governors Meeting 2026, the Prime Minister of Sri Lanka, Dr. Harini Amarasuriya, held discussions with academic experts from the British Council on Wednesday [20 May 2026].
The discussions focused on strengthening cooperation in education, particularly in the areas of teacher training, English language programmes, education frameworks, and language acquisition skills.
The British Council shared international experience and highlighted its ongoing engagement in Sri Lanka, while expressing readiness to support the country through technical assistance, teacher development initiatives, and policy collaboration.
Discussions also included views on improving quality assurance, expanding research collaboration, and enhancing learning opportunities.
The Prime Minister appreciated the British Council’s continued engagement in Sri Lanka and reiterated the importance of deepening partnerships.
[Prime Minister’s Media Division’
Prime Minister Dr. Harini Amarasuriya, who is currently on an official visit to the United Kingdom, met with members of the Sri Lankan community living in London on Wednesday [20th] and engaged in cordial discussions.
Despite the event being held on a weekday, it was notable that nearly one thousand Sri Lankans representing the Sinhala, Tamil, and Muslim communities attended with great enthusiasm.
Addressing the gathering, Prime Minister Dr. Harini Amarasuriya stated that despite natural disasters and international crises, the present government has succeeded in stabilizing the country’s economy while providing relief to the people. She further noted that Sri Lanka’s political culture has now undergone a positive transformation that is irreversible.
Minister of Women and Child Affairs Saroja Paulraj, addressing the event, stated that a governance system has now been established in the country where all communities are treated equally and the benefits of economic development are shared fairly among all citizens.
Moving away from the traditional method of political gatherings, the event also provided an open platform for members of the Sri Lankan community to directly raise questions and express their views to the Prime Minister and the Minister.
Commenting on the organization of the event, the organizing committee stated that all expenses, including dinner, were borne by the participants themselves. The organizers further remarked that it is unsurprising that opposition groups, accustomed to organizing such events through the misuse of public funds, appear unsettled by this transparent process.
The occasion was attended by the Minister of Women and Child Affairs Saroja Paulraj and Sri Lanka’s High Commissioner to the United Kingdom, Nimal Senadheera.
[Prime Minister’s Media Division]
Prime Minister Dr Harini Amarasuriya currently undertaking an official visit to London, United Kingdom, to participate in the 43rd Commonwealth of Learning (COL) Board of Governors Meeting 2026 held a bilateral meeting with the Yvette Cooper MP, Foreign Secretary of the United Kingdom ON Wednesday [20]. The Prime Minister was accompanied by Sri Lanka’s High Commissioner to the United Kingdom, Nimal Senadheera, along with officials from the Sri Lankan High Commission.
During the meeting, the Prime Minister conveyed Sri Lanka’s appreciation to the United Kingdom for the support extended in the aftermath of Cyclone Ditwa, including ongoing rebuilding and recovery assistance. The Prime Minister also commended the United Kingdom’s support in facilitating increased bilateral trade and exports for Sri Lanka.
The Prime Minister briefed the UK delegation on Sri Lanka’s recent economic developments and policy priorities, the Government’s commitment to advancing human rights and reconciliation, as well as Sri Lanka’s positive growth trajectory.
The two sides also exchanged views on current global geopolitical developments, challenges in the energy sector, and the importance of enhancing regional connectivity and long-term energy security.
Both sides also emphasised the importance of strengthening structured academic mobility frameworks while ensuring fairness, clarity, and integrity within migration systems.
They also reaffirmed their commitment to further strengthening bilateral cooperation between the two countries in areas of mutual interest.
[Prime Minister’s Media Division]
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