COLOMBO (News 1st); President Anura Kumara Dissanayake says Sri Lanka has now entered a path of economic stability and that the Government's focus is to use that achievement as a foundation for a broader transformation of the country's economy and society.
The President made these remarks during a meeting held at the Presidential Secretariat with a delegation from the International Monetary Fund (IMF) led by IMF Mission Chief Evan Papageorgiou.
The IMF delegation is currently in Sri Lanka for the seventh review of the country's Extended Fund Facility (EFF) Programme as well as the 2026 Article IV Consultation. The delegation is scheduled to remain in Colombo until September 23.
During the discussions, President Dissanayake noted that recent economic indicators clearly demonstrate that Sri Lanka has moved onto a path of stability. He emphasized that the Government's objective is not merely to maintain stability but to use it as a platform to usher in a transformative era of growth and development.
The President also stressed that the ultimate goal of the Government is to ensure that the benefits of economic recovery are felt by ordinary citizens through improvements in their quality of life and living standards.
According to the President's Media Division, IMF Mission Chief Evan Papageorgiou acknowledged what he described as significant economic progress achieved by Sri Lanka during the recent period.
He commended the country's efforts in maintaining fiscal discipline, increasing government revenue and attracting foreign investment, while also stressing on the importance of preserving economic stability as the country moves towards 2027 and beyond.
President Dissanayake observed that the programme being implemented jointly with the IMF has provided Sri Lanka with a crucial framework for rebuilding economic stability after years of economic turmoil. He noted that the improved position of the economy had also enabled the country to better absorb shocks arising from major external challenges, including the impact of Cyclone Ditwah and the economic consequences arising from the ongoing conflict in the Middle East.
The President further pointed to Sri Lanka's economic growth rate of 4.2 per cent recorded during the second quarter of this year as a strong indication that the economy is steadily recovering and expanding.
Reflecting on government revenue collection over the past two years, President Dissanayake reiterated that protecting the stability achieved through reforms and IMF-supported measures remains a priority for his administration.
During the discussions, the IMF delegation also acknowledged progress made in implementing Sri Lanka's social welfare benefits programme, which remains one of the key commitments under the IMF-supported reform programme.
The meeting also reviewed challenges facing the public due to higher energy costs linked to developments in the Middle East and their impact on household finances and economic activity.
The IMF delegation included Enrique Flores Curiel, Dinar Prihardini, Ursula Wiriadinata, Ozlem Aydin, Yorbol Yakhshilikov, Klakow Akepanidtaworn, Yan Chen, Martha Woldemichael, who serves as Resident Representative, and local economist Manavee Abeyawickrama.
