Sri Lanka and IMF look at strengthening financial governance
Sri Lanka and the International Monetary Fund (IMF) have looked at strengthening financial governance in Sri Lanka.
State Minister of Finance Shehan Semasinghe had talks with the Deputy Managing Director of the IMF, Kenji Okamura.
“It was a great pleasure to meet IMF DMD HE Kenji Okamura. Discussed the progress of the EFF programme, challenges & opportunities & the ambitious reform agenda implemented by the govt of LKA to stabilize & promote growth despite the challenging macroeconomic environment,” the State Minister tweeted.
He said that the need of a diversified economy, improving the business environment, strengthening financial governance and an anti-corruption legislation to unlock growth potential was also noted.
The State Minister said that the IMF is looking forward to strengthening its relationship with Sri Lanka.
“We further discussed on better targeted transparent selection on providing social welfare benifits & the financial assistance to be provided directly to the beneficiary accounts from the month of July to the most eligible low-income and vulnerable individuals & families,” Semasinghe tweeted.
An IMF mission led by Peter Breuer and Masahiro Nozaki conducted a staff visit to Colombo from May 11 to 23, 2023 to discuss recent economic developments and implementation of the Fund-supported program
At the conclusion of the visit the IMF welcomed the authorities’ ongoing efforts in meeting key commitments under the Fund-supported program.
The mission discussed additional fiscal efforts that will be critical to ensure successful revenue mobilization.
The IMF also said that keeping up the reform momentum and ensuring timely implementation of program commitments, including to ensure central bank independence, improve governance, and protect the vulnerable, are key for Sri Lanka to emerge from the economic crisis. (Colombo Gazette)
