Sri Lanka’s Central Bank Governor Advocates Steady Economic Recovery Path

Sri Lanka's Central Bank Governor, Dr. Nandalal Weerasinghe, emphasized the necessity of maintaining the current trajectory for economic recovery. He highlighted the importance of finalizing the external debt restructuring process, with significant progress made in addressing Debt Department Operations (DDO) concerns, though challenges persist with the Ceylon Petroleum Corporation (CPC).

Agreements with bilateral creditors are underway, including negotiations for Memoranda of Understanding (MoUs) with the Official Creditors Committee (OCC) and China. Dr. Weerasinghe assured progress with the China Development Bank (CDB) and constructive discussions with the International Sovereign Bond (ISB) group.

Completion of the International Monetary Fund (IMF) review marks a significant milestone, enhancing confidence in Sri Lanka's policy direction. Dr. Weerasinghe stressed the importance of adhering to IMF commitments to demonstrate the country's dedication to prudent economic policies.