The International Monetary Fund (IMF) has stated that there will be no immediate changes to the electricity pricing goals in Sri Lanka's IMF-supported program. They emphasized the need to keep recovering costs in the utility sector. During a press briefing on October 15, IMF Communications Director Julie Kozack responded to questions, highlighting the program's strong commitment to ensuring that electricity tariffs cover costs. This is essential for Sri Lanka's financial health, as it helps avoid losses for state-owned utility companies. Kozack pointed out that any future changes necessary to assist Sri Lanka will be discussed between IMF staff and Sri Lankan officials during ongoing fact-finding missions. She noted that these discussions will consider the country’s current economic situation and recovery needs. “Our aim is to support Sri Lanka as it recovers from the devastating hurricane and to help in any way that aligns with our mandate to help Sri Lanka maintain economic stability,” she said. Additionally, Evan Papageorgiou, the IMF Mission Chief for Sri Lanka, announced that an IMF team will visit the country from January 22 to January 28, 2026, to evaluate the damage from Cyclone Ditwah. He mentioned that the findings from this mission will guide future discussions on the IMF-supported program. Papageorgiou explained that this visit shows the IMF's commitment to helping Sri Lanka deal with the economic and humanitarian issues resulting from the cyclone. During the visit, IMF staff will meet with government officials and other stakeholders to assess the effects on infrastructure, livelihoods, and overall economic stability. “The IMF team will look into how it can best support Sri Lanka in its recovery, including resuming the Extended Fund Facility-supported program and providing policy advice and technical help to encourage resilience and sustainable growth. More information will be shared after the mission concludes,” he added.
Popular News
