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The first Deputy Managing Director of the International Monetary Fund has assured the IMF’s fullest cooperation for Sri Lanka’s efforts to restore debt sustainability.
Gita Gopinath has appreciated the progress Sri Lanka has made on several fronts, said Sri Lankan State Minister Shehan Semasinghe on X, formerly known as Twitter.
The Sri Lankan delegation and the IMF Deputy Chief had also discussed the Sri Lanka’s ongoing work on anti-corruption and governance improvement.
For Sri Lanka, the 2023 Annual Meetings are particularly important. The country is currently facing a severe economic crisis, with high inflation, low foreign reserves, and a large debt burden. The government is in the process of negotiating a bailout package with the IMF, and the Annual Meetings will provide an opportunity for Sri Lankan officials to discuss their progress and seek support from other member countries.
In addition to the official meetings, the Annual Meetings also feature a variety of side events and seminars on a wide range of development topics. These events provide an opportunity for Sri Lankan policymakers and other stakeholders to learn about best practices and network with experts from around the world.
2023 IMF, World Bank Annual Meetings and importance to Sri Lanka:
Secure financial assistance: The Annual Meetings provide an opportunity for Sri Lanka to secure financial assistance from the IMF and other member countries. The government can use this assistance to help stabilize its economy and finance its development programs.
Attract foreign investment: The Annual Meetings also provide an opportunity for Sri Lanka to attract foreign investment. The country can use the meetings to showcase its investment potential and to meet with potential investors.
Share best practices: The Annual Meetings feature a variety of side events and seminars on a wide range of development topics. Sri Lankan policymakers and other stakeholders can learn from the experiences of other countries and share their own best practices.
Overall, the 2023 IMF and World Bank Annual Meetings are an important opportunity for Sri Lanka to advance its economic and development goals.
Experts opine that the government should make the most of this opportunity to secure financial assistance, attract foreign investment, share best practices, and build relationships with other countries and international organizations.
[url=https://www.newsfirst.lk/2023/10/11/imf-deputy-chief-assures-fullest-support-to-sri-lanka#:~:text=Marrakech (News 1st); The,efforts to restore debt sustainability.]https://www.newsfirst.lk/2023/10/11/imf-deputy-chief-assures-fullest-support-to-sri-lanka#:~:text=Marrakech%20(News%201st)%3B%20The,efforts%20to%20restore%20debt%20sustainability.[/url]
