INTERNATIONAL FINANTIAL INSTITUTIONS IMF,ADB AND WB -EMPHASISE IMPORTANCE OF MAINTAINING SOCIAL STABILITY AND PROTECTING DEMOCRACY

IMF, ADB & WB emphasize protecting democracy to assist SL

International Financial Institutions, including the IMF, the ADB and the World Bank have extended their assistance towards Sri Lanka while emphasizing the importance of maintaining social stability and protecting democratic institutions in the country for them to assist Sri Lanka to effectively manage the economic issues confronted by the country and the people.

A Sri Lankan delegation, led by the Minister of Finance Ali Sabry, participated in the 2022 Spring meetings of the International Monetary Fund (IMF) and the World Bank Group held in Washington DC during 18-22 April 2022. The delegation had meetings with several International Financial Institutions, including the IMF and the World Bank, and bilateral partners during their stay in Washington DC.

According to the Ministry of Finance, the discussions were mainly focused on the present critical situation of the Sri Lankan economy, and policies and measures to be implemented in the immediate, short, and medium term. The key areas discussed included (a) addressing the immediate need of restoring supply chains of essential items, including fuel, LP gas, and pharmaceuticals(b) securing bridge financing in the interim period until IMF financing with an economic programme is finalized

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