IMF and Sri Lanka: Progress Towards a Financial Accord

The International Monetary Fund is working with Sri Lanka to finalize an agreement related to the fourth review of its $2.9 billion program. Following a productive visit from an IMF team, talks are advancing smoothly, signaling a potential agreement in the near future.

The International Monetary Fund (IMF) announced on Friday that constructive negotiations with Sri Lanka are paving the way for an anticipated agreement on the fourth review of a $2.9 billion financial program. The discussions took place after an IMF team visited the island nation, indicating progress is on the horizon.

According to a statement from the IMF, the visiting staff engaged in highly productive talks with Sri Lankan officials, focusing on the nation's economic performance and the policies supporting this review phase of the program.

This development highlights a cooperative effort to bolster Sri Lanka's economic framework, which is crucial for both parties as they strive to ensure financial stability and growth through international aid and collaboration.

(With inputs from agencies.)