President says high-level committee to recommend next steps after IMF’s EFF programme

By The Pulseline News Desk

The Government has appointed a high-level committee to examine Sri Lanka’s economic policy options and recommend the next steps after the country’s ongoing International Monetary Fund (IMF) Extended fund Facility (EFF) programme concludes in March 2027. The committee is to also discuss whether the Government should enter another IMF programme that is different to the EFF or any other programme.

President Anura Kumara Dissanayake noted the appointment while presenting the 2027 Budget in Parliament today (12), saying the committee would assess the country’s economic priorities and determine the appropriate policy direction beyond the current IMF-supported EFF.

The committee will be headed by Deputy Finance Minister Anil Jayantha Fernando and comprise the Treasury Secretary, the Governor of the Central Bank of Sri Lanka and a group of economic experts.

Its mandate is to study the country’s economic position and recommend a framework for managing the economy once the current IMF programme comes to an end.

Sri Lanka’s ongoing EFF arrangement, valued at approximately US$3 billion, was introduced to support economic recovery, restore debt sustainability, strengthen foreign exchange reserves and implement structural reforms following the country’s 2022 economic crisis.

The programme is scheduled to conclude in March 2027, leaving the Government to determine how it will maintain fiscal discipline, debt sustainability and economic stability beyond the IMF-supported arrangement.

The committee’s appointment signals an effort to formulate a post-IMF economic strategy ahead of the programme’s conclusion, particularly as the country continues to balance recovery requirements with demands for stronger economic growth and improved living standards.

The President did not disclose a timeline for the committee’s recommendations or indicate whether the Government intends to seek a successor IMF arrangement.