World Bank assures continuous support to Sri Lanka

Thursday, 1 December 2022 00:00 - - {{hitsCtrl.values.hits}}

Prime Minister Dinesh Gunawardena held discussions with World Bank Country Director Chiyo Kanda and senior strategy and operations officials about the progress of ongoing projects and proposed future projects.

The Prime Minister briefed the delegation about the steps taken by the Government to overcome economic challenges and said the new reforms would result in early conclusion of monetary arrangements with the International Monetary Fund. WB Director expressed satisfaction over the short-term measures to ease the economic situation and stressed the need for continuous midterm and long-term efforts. She assured continuous support to Sri Lanka.

They exchanged views on the new reforms, including monetary and fiscal reforms which will soon see passage through the Cabinet and Parliament to pull the country out of its current economic crisis.

With most prior actions including but not limited to revenue enhancing policies, market pricing of energy and the commitment to restructure loss making state-owned enterprises have been either already implemented or embarked upon, the Prime Minister said. The government is committed to work on food security and export crop production, even amid difficult situation, he stressed.

The delegation noted that IMF package to unlock $ 2.9 billion over a four-year span as very good progress is being made in the debt restructuring front.

World Bank Director of Strategy and Operations for South Asia Illango Patchamuthu, Senior Operations Officer Asela Dissanayake and Additional Secretary to the Prime Minister Mahinad Gunaratne also took part in the discussion.