World News | IMF's Gopinath Lauds Sri Lanka's Economic Reforms, Urges Sustained Momentum

Colombo, June 16 (PTI) International Monetary Fund (IMF) First Deputy Managing Director Gita Gopinath on Monday commended Sri Lanka's significant progress in economic reforms and emphasised the importance of maintaining momentum to ensure lasting stability and prosperity in the island nation.

Gopinath is on a two-day official visit to Sri Lanka from June 15.

Also Read | Saudi Prince Al-Waleed Bin Khaled Bin Talal Woke Up From Coma After 20 Years? Here’s a Fact-Check of Viral Video Falsely Attributed to the ‘Sleeping Prince’.

During her meeting with President Anura Kumara Dissanayake at the Presidential Secretariat, Gopinath acknowledged the strong mandate received by the ruling National People's Power (NPP) in both parliamentary and local council elections, according to a press release issued by the president's office.

She noted that these mandates "enhance the government's ability to implement much-needed reforms”, it said.

Also Read | Minnesota Lawmakers' Shooting: 57-Year-Old Suspect Vance Boelter Taken Into Custody by US Police for Fatally Shooting Melissa Hortman and Her Husband, John Hoffman.

Dissanayake's party won record record-breaking two-thirds parliamentary majority in November last year. In the local council election held in early May, it gained a majority of the 338 seats.

Gopinath “commended the remarkable progress achieved over the past two years from a state of severe crisis to renewed growth and falling inflation”, the release said

In a post on social media platform X, Gopinath said she and President Dissanayake discussed Sri Lanka's "strong performance on economic reforms and the importance of maintaining momentum".

"Continued commitment to these reforms is vital for lasting stability and prosperity for all Sri Lankans," she said.

Sri Lanka secured a USD 2.9 billion bailout from the IMF in March 2023 to address its worst financial crisis since independence. The country has since made notable progress, including restoring macroeconomic stability and reducing inflation.

The IMF has reaffirmed its strong support for Sri Lanka's economic recovery and reform agenda.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)