Opposition Leader Sajith Premadasa has urged the Government to begin preparations for a successor agreement with the International Monetary Fund (IMF) once the current programme concludes in 2027, warning that Sri Lanka must not lose momentum in its economic recovery efforts.
A Call for Continuity
Premadasa, who leads the Samagi Jana Balawegaya (SJB), stressed that the country's stabilisation journey cannot be treated as a short-term exercise. He argued that the end of the existing IMF programme should not be seen as a finishing line, but rather as a milestone from which the nation must continue to build.
The current IMF Extended Fund Facility arrangement, which Sri Lanka entered into following its historic economic crisis in 2022, has been widely credited with helping stabilise the country's battered finances, restore foreign exchange reserves, and bring a degree of fiscal discipline to government spending.
Why a Successor Programme Matters
Sri Lanka's road to full economic recovery remains long and uncertain. Despite notable progress in key macroeconomic indicators, the country continues to face significant challenges including high public debt, subdued growth in rural communities, and persistent cost-of-living pressures on ordinary citizens.
Premadasa's call reflects growing concern among economists and opposition politicians that without a structured follow-up arrangement, Sri Lanka risks sliding back into fiscal instability once external oversight and conditionalities are lifted.
The Government must not become complacent. A successor IMF deal is essential to lock in the gains made and ensure Sri Lanka's economic transformation is lasting and inclusive.
Government Yet to Respond
The ruling administration has not yet issued a formal response to the Opposition Leader's proposal. However, discussions around Sri Lanka's post-programme economic strategy are expected to intensify as the 2027 deadline draws closer and debt restructuring obligations continue to take shape.
Sri Lanka completed a landmark restructuring of its international sovereign bonds in 2024, a key condition of the IMF programme, and has since been working to meet successive review benchmarks to ensure continued disbursements under the facility.
Opposition Takes Proactive Stance
By raising the issue now, Premadasa appears to be positioning the SJB as a constructive force on economic policy, urging forward planning rather than waiting until the programme's final stages to consider next steps. Political observers note that the move also allows the Opposition to frame itself as equally invested in the country's long-term financial credibility ahead of future elections.
Sri Lanka's experience with the IMF has historically been cyclical, with the country entering multiple programmes over the decades. Ensuring that this latest engagement results in durable reform rather than another cycle of crisis and bailout remains a central concern for policymakers, civil society, and the international financial community alike.
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at least someone is thinking ahead. goverment wont do it on their own
sajith just talking only, what has he actually done