IMF Managing Director Kristalina Georgieva has emphasized the importance of collective efforts from international financial institutions, official creditors, and bondholders to ensure the success of Sri Lanka’s economic reform and debt restructuring initiatives.
Georgieva noted that the agreements reached by the Sri Lankan authorities with both the Steering Committee of the Ad Hoc Group of External Bondholders and the Local Consortium of Sri Lanka represent a significant milestone. These agreements have been evaluated by the IMF staff as consistent with the parameters of the IMF-supported programme.
The IMF chief highlighted that successful implementation of these agreements would deliver significant external debt service relief, contributing to Sri Lanka’s ongoing efforts to restore debt sustainability.
“To capitalize on this momentum, rapid completion of the debt operation with high creditor participation will be critical for the programme’s success,” Georgieva stated.
She also mentioned that Sri Lankan authorities are in the process of finalizing other pending debt restructuring agreements, underlining the importance of a collective approach to support the nation’s debt restructuring objectives.
The Sri Lankan government has reaffirmed its commitment to pursuing a comprehensive reform agenda aimed at achieving sustained and high economic growth. Georgieva expressed the IMF’s continued support, reiterating its readiness to assist Sri Lanka in reaching its economic and social reform goals.