Sri Lanka showcases economic reform & debt restructuring progress at IMF-World Bank meetings

The Sri Lankan delegation, led by Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL), actively participated in a series of high-level bilateral and multilateral meetings during the 2025 World Bank Group/ International Monetary Fund (IMF) Annual Meetings in Washington, D.C., during October 13–18, 2025. 

Governor Dr. Nandalal Weerasinghe, during his participation at the Annual Meetings, met with the Managing Director of the IMF, the President of the World Bank Group, senior officials from both institutions, and representatives from the US Department of Treasury, the CBSL said. 

The delegation, which included senior officials from the Central Bank of Sri Lanka and the Ministry of Finance, received strong support for Sri Lanka’s ongoing economic reform efforts. There was widespread recognition of the country’s prudent macroeconomic management, encompassing sound fiscal and monetary policies, efforts to safeguard financial system stability, strengthened social safety nets, and continuous improvements in governance. 

Discussions with multilateral and bilateral partners focused on advancing development cooperation in infrastructure, energy, and digital transformation, with particular interest in securing new financing and technical assistance on capacity building. The delegation also engaged productively with the sovereign credit rating agencies, providing updates on economic recovery and reform milestones that were well received and helped reinforce market confidence. 

Constructive interactions with the US Chamber of Commerce and active participation in investor forums further highlighted Sri Lanka’s commitment to transparency, investment promotion, and fostering renewed investor confidence. Progress on debt restructuring was highly commended, future collaboration was encouraged, and updates on economic recovery and reform milestones were well received. 

During the Global Sovereign Debt Roundtable (GSDR), Sri Lanka welcomed global efforts to address debt vulnerabilities and strengthen coordination, emphasising the near completion of its debt restructuring and recent IMF programme milestones. 

Governor Dr. Weerasinghe underscored the importance of timely restructuring, transparency, and sustained reform, and emphasised a focus on countries with sustainable debt, but high debt servicing burdens. Sri Lanka advocated for clearer processes in commercial debt restructuring, regular updates on bilateral agreements, practical guidance on liability management, and greater debt transparency. 

The intervention endorsed the updated Restructuring Playbook and called for enhanced international support to sustain reforms and restore market access, reaffirming Sri Lanka’s commitment to ongoing global debt coordination efforts, the statement said.

The outcomes of these meetings and the GSDR intervention underscore the international community’s confidence in Sri Lanka’s reform trajectory. Constructive engagement with key partners and financial institutions has reinforced support for Sri Lanka’s economic recovery, debt sustainability, and investment climate. 

The delegation’s transparent dialogue and commitment to best practices send a strong signal to markets and investors: Sri Lanka is on a firm path to stability and growth, backed by robust policies and global partnerships, it added. 

A highlight of the week was the recognition of Dr. Nandalal Weerasinghe with the prestigious “A Grade” award by Global Finance Magazine at the 2025 World’s Best Bank Awards Ceremony. This accolade was in recognition of prudent monetary policy, supervision of the financial system, and the Central Bank’s leadership in navigating challenging global conditions.