A man fuels a vehicle at a gas station in Colombo, Sri Lanka, March 29, 2023. (Photo by Gayan Sameera/Xinhua)
COLOMBO, March 8 (Xinhua) -- The International Monetary Fund (IMF) program in Sri Lanka is showing signs of working and translating into real outcomes, an IMF official said Thursday.
Peter Breuer, IMF's senior mission chief for Sri Lanka made the remarks during the meeting with President Ranil Wickremesinghe, said the President's Media Division.
Breuer said the positive outcome came thanks to Sri Lankan authorities' commitment to the program and implementation.
Earlier in the day, Sri Lanka's State Minister of Finance Shehan Semasinghe said the above-mentioned meeting marks the IMF's second review of the Extended Fund Facility (EFF) Arrangement for the South Asian country.
Semasinghe said the Sri Lankan government aims for a successful review and reaching a staff-level agreement which will help unlock about 337 million U.S. dollars in the third tranche of the IMF's bailout package.
In March 2023, the IMF approved a 48-month extended arrangement under the EFF of about 3 billion dollars to support Sri Lanka's economic policies and reforms. ■
