An Internatonal Monetary Fund (IMF) team, led by Senior Mission Chief Peter Breuer, will visit Sri Lanka next week to conduct the third review of the country’s economic reform program supported by the IMF’s Extended Fund Facility.

The review aims to evaluate fiscal and monetary targets, a crucial step for advancing the program.

President Anura Dissanayake announced that the review would conclude by late January or early February, paving the way for economic stability. He stated that a full budget aligned with the IMF program would be presented and passed by February. Until then, a four-month vote-on-account will be tabled in December.

Key budget proposals include a 3,000-rupee allowance for pensioners, reduced PAYE taxes, removal of VAT on food, and financial support for children’s school supplies. President Dissanayake also promised a salary hike for state workers and expansion of the Aswesuma welfare program.

Debt restructuring is expected to be finalized by December, with repayments starting in 2028. The President expressed confidence in building an economy strong enough to manage future debt obligations.