Sri Lanka’s discussion with IMF and the World Bank begun

Feb 20, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake has begun discussions with World Bank Managing Director Sri Mulyani Indrawati and with IMF Managing Director Christine Lagarde, the central bank said in a media release. Also, these discussions will continue with the senior officials in the context of the next regularly scheduled Post-Program Monitoring mission, which will visit Sri Lanka from February 23 through March 4, 2015. Further, the Post-Program Monitoring mission is expected to be followed by IMF technical assistance missions focused on tax policy and administration, public financial management, and financial sector supervision. The discussion was taken place as part of raising an estimated four billion dollar financing loan backed by the International Monetary Fund (IMF).

The bank says the World Bank Managing Director Indrawati welcomed the new government’s emphasis on improving governance, transparency and accountability and assured the World Bank’s continued assistance to Sri Lanka in its development efforts, including during this critical transformation period.

She also assured that the World Bank would favorably consider request for program support under its Development Policy Loan (DPL) scheme.