Speaking at a press briefing in Washington on October 2, IMF Communications Director Julie Kozack said Sri Lanka’s inflation remains low, government revenue collection has improved, and international reserves continue to increase. She highlighted that the country’s post-crisis economic rebound has been significant, with growth reaching 5 percent in 2024.
“The revenue-to-GDP ratio in the budget improved to 13.5 percent from 8.2 percent in 2022 — a significant increase, though there is still more work to be done,” Kozack stated, adding that Sri Lanka’s debt restructuring process is “nearly complete.”
The IMF Board completed the Fourth Review of Sri Lanka’s EFF arrangement on July 1, releasing US$350 million in support, bringing total disbursements to US$1.74 billion.
Kozack also confirmed that an IMF mission is currently in Sri Lanka conducting the Fifth Review of the EFF. “Given that the team is now in discussions with the authorities, I won’t say more other than that the team will communicate at the end of the mission,” she said.
She further noted that program performance remains strong and that the Sri Lankan government continues to show firm commitment to the program’s objectives — restoring macroeconomic stability, ensuring debt sustainability, and implementing structural reforms to support long-term growth.
