COLOMBO, Nov. 13 (Xinhua) -- Sri Lanka is likely to consider entering into another program with the International Monetary Fund (IMF) after completing its current arrangement, Deputy Minister of Finance and Planning Anil Jayantha Fernando said Thursday.
Speaking to local media, Fernando said a Cabinet-appointed committee had been tasked with examining Sri Lanka's future engagement with the IMF and assessing the adequacy of the country's reserves.
He said the committee had not yet met, but would study the available options once Sri Lanka completed its current IMF program.
Fernando said the country's immediate priority had previously been to restore economic stability, but the focus was now shifting toward stronger economic growth.
He added that Sri Lanka would continue to work with the IMF and other international institutions even without a formal program.
The committee would assess what form of future engagement would best meet Sri Lanka's needs and submit its recommendations to the Cabinet, which would make the final decision, Fernando said.
Sri Lanka entered its current IMF program in March 2023, when the IMF Executive Board approved a 48-month Extended Fund Facility worth about 3 billion U.S. dollars. The arrangement is scheduled to expire in March 2027. ■