Ceylon Chamber of Commerce Welcomes IMF’s US$695 Million Financial Assistance
The Ceylon Chamber of Commerce (CCC) has welcomed the approval of approximately US$695 million in financial assistance from the International Monetary Fund (IMF), stating that it will strengthen investor confidence and support Sri Lanka’s economic recovery.
In a statement, the Chamber noted that the approval comes at a crucial time, amid global uncertainties and external pressures linked to ongoing conflicts in the Middle East. The funding is expected to reinforce market confidence and contribute positively to the country’s economic stabilization and growth efforts.
The Chamber highlighted that Sri Lanka has successfully completed the fifth and sixth reviews under the IMF’s Extended Fund Facility (EFF) program, paving the way for the release of the latest tranche of financial assistance.
The statement further emphasized the importance of continuing structural reforms aimed at improving:
- The investment climate
- Economic competitiveness
- Infrastructure development
- Institutional efficiency
The Chamber also stressed the need to strengthen the fuel QR system while maintaining a cost-reflective pricing mechanism, in order to improve efficiency and provide targeted support where necessary.
Additionally, it called for clear, consistent, and transparent communication of economic policies to maintain market confidence and ensure macroeconomic stability.
The Ceylon Chamber of Commerce further underscored the importance of accelerating reforms in key sectors, including:
- Trade
- Investment
- Tourism
- Logistics
- Digitalization
According to the Chamber, advancing reforms in these areas will enhance Sri Lanka’s economic resilience, attract investment, and support the country’s long-term sustainable development. 🇱🇰📈
