President Ranil Wickremesinghe announced to the Parliament the successful completion of the first review under the International Monetary Fund's (IMF) Extended Fund Facility (EFF) arrangement. The President delivered a special statement, highlighting the positive outcome that now positions the country to resume discussions on foreign aid and investments with governments that had suspended support in 2022.

The completion of the IMF's EFF review is seen as a crucial step towards restoring confidence in Sri Lanka's economic stability and attracting much-needed foreign assistance. President Wickremesinghe made the announcement in Parliament ahead of the vote on the Third Reading of the 2024 Appropriation Bill (Budget), underlining the economic significance of the milestone.

The President's statement comes at a time when Sri Lanka is navigating fiscal challenges, and the successful review is expected to open avenues for renewed partnerships with foreign governments. The resumption of aid and investments, which had been temporarily halted in 2022, is anticipated to provide a boost to the nation's economic recovery efforts.

President Wickremesinghe's presence in Parliament this morning signals the importance of the announcement, aligning it with the ongoing discussions on the 2024 Budget. The Committee Stage, also known as the Third Reading of the 2024 Budget, is scheduled for a vote at 06:00 p.m. today.