Sri Lanka's long recovery gets the IMF's clearest vote of confidence yet

Four years after economic collapse emptied Sri Lanka's shelves and fuel queues stretched for miles, the International Monetary Fund used its meetings in Bangkok on October 15 to say plainly how far the island has come: the macroeconomic situation is 'much improved', fiscal performance is very strong, debt restructuring is largely complete, and governance has seen important improvements. IMF Asia-Pacific deputy director Sonali Jain-Chandra said the Fund stands ready to support Sri Lanka 'in any way they desired'. Earlier this month the IMF reached a staff-level agreement on the seventh review of its programme, which would unlock about $345 million in financing once the board approves it in the coming weeks — with talks on continued support beyond the programme's March expiry already on the table. Recoveries are made of budgets balanced and debts renegotiated; they are felt in kitchens where the cooking gas simply arrives.

SDG 8 · Decent work and economic growth — Mechanism: policy reform