Former United National Party Deputy Leader and Parliamentarian Ravi Karunanayake says the International Monetary Fund (IMF) has urged Sri Lanka to accelerate reforms of state-owned enterprises as part of the country’s ongoing economic recovery programme.
Speaking to the media, Karunanayake said the IMF had acknowledged that Sri Lanka’s economy is showing signs of growth but stressed that the progress remains insufficient.
He also questioned whether the public had received the expected benefits from the IMF-supported programme.
Karunanayake said the IMF delegation, currently in Sri Lanka to review the seventh programme assessment, has emphasised the need to expedite reforms of government-owned commercial institutions.
According to him, the IMF has pointed out that restructuring entities such as the Ceylon Petroleum Corporation and the Ceylon Electricity Board has yet to deliver the expected results.
He further claimed that the IMF is also closely monitoring developments related to the private sector and the Colombo Port City while urging the Government to accelerate commercial and institutional reforms ahead of the release of the seventh tranche under the IMF programme.
