The absence of an agreement at the end of an IMF mission does not in itself mean the programme has gone off track, the Fund’s Resident Representative for Sri Lanka said — review discussions can simply require more time to settle key policies and parameters.
Dr. Martha Tesfaye Woldemichael made the remarks at the Sampath Bank Economic Forum 2026, held on 24 September at Shangri-La Colombo under the theme “The Great Reordering: Global Shifts, Market Opportunities and Sri Lanka’s Next Growth Chapter”. Hiru News reported her comments on 2 October.
The timing matters. The forum took place one day after the IMF team ended its Seventh Review mission on 23 September without a staff-level agreement — making these the Fund’s first substantive public remarks in Colombo on why no deal was announced.
Concerns over the Anti-Corruption Act
Dr. Woldemichael also addressed proposed amendments to Sri Lanka’s Anti-Corruption Act. She stressed that the Fund’s objections to particular provisions should not be read as diminishing the governance reforms already delivered under the Extended Fund Facility.
The IMF supports reviewing legislation in the light of implementation experience, she said, but has concerns that some of the proposed amendments could weaken transparency and accountability — specifically on public access to asset declarations, redaction rules, and the scope of asset declarations. Preserving the integrity of the anti-corruption framework, the Fund has said, remains critical to public trust.
The Governor on the next phase
Central Bank Governor Dr. P. Nandalal Weerasinghe, also speaking at the forum, said maintaining macroeconomic and financial stability remains essential as the country moves into its next phase of growth. He pointed to administrative bottlenecks, licensing and permitting, digitalisation and trade barriers as the areas needing attention to create a more supportive environment for business.
Where the review stands now
Speaking separately at the Central Bank’s monetary policy briefing on 1 October, Weerasinghe said he expects a staff-level agreement on the Seventh Review “very soon”, attributing the delay to technical and analytical work on parts of the programme, and said the disbursement tied to the review should arrive by the end of this year.
About the forum
The forum was hosted by Sampath Bank PLC, with a welcome address by Hiran Cabraal, Independent Non-Executive Director, and a panel moderated by Tharindu Abeywardana, the bank’s Chief Economist and Head of Research. Managing Director and CEO Sanjaya Gunawardana closed the event, calling for policymakers, businesses and financial institutions to work together to convert emerging opportunities into sustainable growth.
Note on dating: the forum was held on 24 September; Hiru News published its account on 2 October. The remarks reported here are those made at the September event.
