President Anura Kumara Dissanayake said that Sri Lanka will sign an agreement for the next tranche of its International Monetary Fund (IMF) program this Sunday (23).

Speaking at the inaugural session of the 10th Parliament, the President pointed out the critical need for precision in managing the nation’s fragile economy. He acknowledged that adhering to the IMF agreement is essential for Sri Lanka’s recovery.

"The current economy leaves no room for mistakes. Breaking the agreement with the IMF offers no viable alternative," he stated.

The IMF delegation, which arrived in Sri Lanka on November 17, has been engaged in extensive discussions to finalize the terms of the program.

The President also highlighted progress in debt restructuring, revealing that agreements have been reached on bilateral loans and with the international sovereign bond market. He expressed hope to complete these arrangements by December.

While these measures are vital for economic stabilization, President Dissanayake stressed the need for a transformative economic strategy to address the nation’s deep-rooted challenges. "Stabilization is just the first step; a complete overhaul of our economic structure is crucial," he said.