The Hon. Ravi Karunanayake

¶ 01 Hon. Speaker, I wish to ask the following Question from the Hon. Prime Minister under Standing Order No. 27(2).

¶ 02 Now that the IMF Executive Board has approved the combined Fifth and Sixth Reviews under the Extended Fund Facility and released a further tranche of approximately US dollars 695 million to Sri Lanka, and with the IMF Agreement lapsing in seven months, will the Hon. Prime Minister inform this House whether the Government,

¶ 03 (a) has conducted an assessment of the economic, social and fiscal outcomes of the 2023 IMF EFF arrangement?

¶ 04 (b) based on such assessment, has determined whether the expected objectives have been achieved; if so, what are those objectives and to what extent have they been achieved?

¶ 05 (c) acknowledges improvements in living standards and economic welfare commensurate with the sacrifices borne by the people due to higher taxes, fuel and electricity tariffs, and cost of living?

¶ 06 (d) will inform whether the anticipated gains in growth, employment, investment inflows and export growth at the inception of the IMF programme have materialized; if not, why?

¶ 07 (e) has assessed the impact of IMF reforms on MSMEs, self-employed persons, wage earners, and vulnerable groups; if so, what are the outcomes?

¶ 08 (f) believes Sri Lanka has achieved sufficient stability and debt sustainability to proceed without another IMF arrangement?

¶ 09 (g) is discussing or negotiating a new IMF programme or any form of engagement beyond 2027?

¶ 10 On 04 June 2026, the Daily FT reported, “Government seeks IMF options as Middle East crisis tests recovery: Treasury,” noting that, “As the Middle East crisis, trade disruptions, and energy market volatility continue to cloud the outlook, the next phase of Sri Lanka’s IMF programme is likely to focus increasingly on preserving stability while ensuring businesses, investors, and vulnerable communities...”

¶ 11 (h) If so, what are the main objectives, conditions and time frame of such engagement, and will Parliament be informed and consulted beforehand?

¶ 12 (i) If a further IMF programme is not envisaged, what is the alternative strategy to reduce the cost of living, maintain stability, sustain growth, ensure debt sustainability, and safeguard public welfare? How will currently unmet targets be achieved?

¶ 13 (j) Under the EFF, what is the total cost—including principal and interest—Sri Lanka must repay by the end of the repayment period?

¶ 14 That is, for the IMF’s US dollars 2.9 billion, interest is about US dollars 850 million. Over nine years, the total reaches about US dollars 3.8 billion.

¶ 15 (k) Will the Government table in Parliament the annual schedule of external debt service—principal and interest—due from 2028 to 2048?

¶ 16 Thank you, Hon. Speaker.