The Ceylon Chamber of Commerce congratulates the government on the successful completion of the third review under the IMF’s Extended Fund Facility (EFF) arrangement. The latest approval by the IMF Board and the subsequent disbursements will provide much-needed support for Sri Lanka’s continued economic recovery.
The Board is particularly pleased that the new government has achieved two key macroeconomic priorities outlined in its 10-point Central Implementation Plan within the first six months:
- 1) Complete external debt restructuring.
2) Implement credible fiscal policy changes as reflected in the 2025 National Budget.
As Sri Lanka enters the second half of its four-year IMF program, it is crucial for the government to accelerate the implementation of structural reforms essential for sustainable growth. Key priorities include:
Trade facilitation reforms, including the National Single Window and the new Customs Act.
Development of the Digital Identity Card and Digital Public Infrastructure.
Enactment of critical legislation such as the Economic Transformation Act.
Strengthening governance reforms to improve the investment and business environment.
Expanding the tax net to achieve fiscal targets through improved revenue administration and digitalization.
The Ceylon Chamber of Commerce is committed to working with policymakers to steer these progressive reforms, ensuring not only the successful completion of future IMF reviews, but also fostering a transformative growth path for Sri Lanka.
