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In a recent press briefing held in Washington DC, the International Monetary Fund (IMF) praised Sri Lanka's robust macroeconomic policies, noting a significant decline in inflation and steady economic growth. Julie Kozack, Director of IMF Communications, highlighted the positive outcomes, including rapid inflation reduction, robust reserve accumulation, and stability in the financial system.

Kozack announced a staff-level agreement between IMF staff and Sri Lankan authorities for the second review of the four-year EFF-supported program and the 2024 Article IV Consultation. Upon approval, Sri Lanka stands to access approximately US$337 million in financing.
 Completion of the review by the IMF Executive Board hinges on the implementation of agreed prior actions and financing assurances review.

Regarding debt restructuring, Kozack emphasized the need to finalize negotiations with external private creditors and implement agreements with official creditors. While domestic debt operations are mostly concluded, negotiations with external bondholders are ongoing, aiming to reach agreement in principles. Kozack stressed the importance of finalizing agreements with official creditors to move forward with debt restructuring efforts effectively.