The Ceylon Chamber of Commerce welcomes and commends the Government of Sri Lanka on the successful completion and approval of the 5th and 6th Reviews under the International Monetary Fund (IMF) Extended Fund Facility (EFF) programme. This milestone enables Sri Lanka to access approximately USD 695 million in financing support, reinforcing confidence in the country’s ongoing economic recovery and reform agenda.
At a time of heightened global uncertainty and external sector pressures arising from the conflict in the Middle East, the Chamber believes this approval sends a strong positive signal to markets, investors, and the private sector. Continued engagement with the IMF programme remains critical to preserving macroeconomic stability, restoring investor confidence, and strengthening Sri Lanka’s external resilience.
The Chamber notes that the IMF review underscores the importance of sustaining structural reforms, including improving the investment climate, enhancing competitiveness, and accelerating infrastructure and institutional reforms that support private sector-led growth.
At the onset of the Middle East crisis, The Ceylon Chamber of Commerce submitted recommendations to the Government addressing several immediate economic and energy-related risks. These recommendations remain highly relevant in managing emerging pressures on the exchange rate, energy costs, and overall external sector stability.
In line with the Ceylon Chamber’s earlier recommendations, the following priority measures are reiterated:
1. Strengthen and optimize the fuel QR system as a digital platform to improve efficiency and facilitate better targeted support mechanisms for priority groups such as public transport and school transport operators, while maintaining cost-reflective pricing principles.
2. Continue to ensure clear and consistent communication on the direction of economic policy to further reinforce confidence among businesses and investors, support orderly exchange rate expectations, reduce market uncertainty, and sustain overall macroeconomic stability.
The Ceylon Chamber also emphasises the importance of accelerating reforms that improve Sri Lanka’s competitiveness in trade, investment, tourism, logistics, and digitalisation. Advancing these reforms will be essential to sustain and improve macroeconomic stabilisation and resilience. The Ceylon Chamber has also urged its members to act responsibly during this critical period by supporting measures that preserve economic stability and safeguard Sri Lanka’s long-term interests.
The Ceylon Chamber of Commerce remains committed to actively engaging with policymakers and stakeholders in supporting progressive economic reforms, the successful completion of future IMF programme reviews, and Sri Lanka’s transition towards a resilient and competitive economy.