IMF Says Next Sri Lanka Review After Elections; Will Work With Government Selected By The People

COLOMBO (News 1st); The International Monetary Fund says that the upcoming elections in Sri Lanka are for the people to decide.

Julie Kozack, the Spokesperson for the International Monetary Fund responding to a question raised by News 1st's Zulfick Farzan at a press briefing noted that the timing of the third review will be discussed with the government following the elections.

"We will move forward with program discussions after the presidential elections take place, and a new government or the outcome based on the choice of the people. We will be ready to go with that," she noted.

However, she noted that achieving the programs objectives is a key priority to give Sri Lanka a chance to emerge from one of its worst crisis in history

Julie Kozack said that Sri Lanka has made a lot of progress, but the country is not out of the wood yet.

She stressed that it is important for Sri Lanka to safeguard the hard won gains.

In response to a query about Sri Lanka’s ongoing debt restructuring process, Kozack provided updates from a recent IMF team visit to Colombo. She outlined that the domestic debt restructuring, along with agreements with the official creditor committee and China’s Exim Bank, were pivotal milestones. Kozack clarified that the IMF's role in the debt restructuring process is limited to providing an overall debt sustainability assessment, while negotiations remain between Sri Lanka and its creditors.

Regarding concerns raised by opposition parties about renegotiating the EFF program following the presidential election, Kozack reaffirmed the IMF's position: “The upcoming presidential elections are for the people of Sri Lanka to decide.”

She went on to note that from the IMF's position, what they see is a program that has made significant achievements, but that it is important to safeguard these achievements to enable the country to fully emerge from one of its worst crises.