Ceylon Chamber welcomes IMF review approval, urges continued reform momentum amid external pressures

The Ceylon Chamber of Commerce has issued a statement welcoming and commending 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.

The Chamber stated that this milestone enables Sri Lanka to access approximately USD 695 million in financing support, thereby reinforcing confidence in the country’s ongoing economic recovery and reform agenda.

It further noted that, at a time of heightened global uncertainty and external sector pressures arising from the conflict in the Middle East, the approval sends a strong positive signal to markets, investors, and the private sector. 

The Chamber emphasised that continued engagement with the IMF programme remains critical to preserving macroeconomic stability, restoring investor confidence, and strengthening Sri Lanka’s external resilience.

The statement added that the IMF review underscores the importance of sustaining structural reforms, including improvements to the investment climate, enhanced competitiveness, and accelerated infrastructure and institutional reforms that support private sector-led growth.

The Chamber also recalled that, at the onset of the Middle East crisis, it had submitted recommendations to the Government addressing several immediate economic and energy-related risks, noting that these remain highly relevant in managing emerging pressures on the exchange rate, energy costs, and overall external sector stability.

Reiterating its earlier recommendations, the Ceylon Chamber of Commerce highlighted several priority measures, including:

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 Chamber further emphasised the importance of accelerating reforms to improve Sri Lanka’s competitiveness in trade, investment, tourism, logistics, and digitalisation, stating that such reforms are essential to sustaining macroeconomic stabilisation and resilience.

It 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 concluded by stating that it 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 more resilient and competitive economy.