The IMF has completed its fourth assessment of Sri Lanka, highly commending the progress of its economic reforms.
The International Monetary Fund (IMF) announced that it completed the fourth review of its Extended Credit Fund (EFF) program for Sri Lanka at the end of 2024. The review confirmed steady progress in Sri Lanka’s economic reforms, including fiscal consolidation, debt restructuring, and recovery of foreign exchange reserves, and decided to continue support.
Sri Lanka’s real GDP growth rate in 2024 was +5.0%, significantly exceeding the IMF’s initial forecast (4.5%). Inflation has also fallen rapidly from its peak in 2022 (over 70%), clearly indicating economic stabilization. Foreign exchange reserves are also on a recovery trend, clearly demonstrating a recovery from the 2022 economic crisis.
The IMF’s continued support is an important signal that enhances investment confidence in Sri Lanka. Our organization believes that now, with the economy stable, is the opportune time for upfront investment in the Port City Colombo Special Economic Zone. We offer free consultations, including individual simulations.
Source: IMF “Sri Lanka EFF Program Fourth Assessment” (2024)
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