IMF reports 85% progress on Sri Lanka's economic reform program

At the Sampath Bank Economic Forum 2026, the International Monetary Fund (IMF) provided updates on Sri Lanka’s economic progress and the ongoing seventh review of its Extended Fund Facility (EFF) program. Martha Tesfaye Woldemichael, the IMF Resident Representative in Sri Lanka, clarified that the current absence of a staff-level agreement does not mean the program is failing, but rather that negotiations regarding essential policies and parameters are taking additional time.

Woldemichael reported that approximately 85% of the objectives outlined in the current program have been achieved. She emphasized that the nation must now transition from economic stabilization toward sustainable growth by enhancing the business environment, increasing exports, and attracting investment.

The IMF also raised concerns regarding proposed amendments to Sri Lanka’s Anti-Corruption Act. While the IMF supports reviewing legislation based on implementation, there are concerns that certain changes could undermine transparency and accountability, specifically regarding public access to asset declarations. Maintaining the integrity of the anti-corruption framework is viewed as vital for fostering public trust.