High-level meeting with IMF addresses key economic reforms, energy sector progress

Saturday, 23 September 2023 00:10 - - {{hitsCtrl.values.hits}}

Power and Energy Minister Kanchana Wijesekera said a high-profile meeting was convened at the Presidential Secretariat on Thursday bringing together key officials from the International Monetary Fund (IMF) and the Government.

Taking to ‘X’ he noted that the discussions centred on a comprehensive review of ongoing economic reforms, cost reflective pricing mechanisms in the energy sector, advancements in the Aswasuma welfare program, and broader economic measures initiated by the Government.

The IMF delegation, led by Senior Mission Chief Peter Breuer, engaged in substantive discussions with prominent figures including Chief of Staff to the President Sagala Rathnayke, State Minister of Finance Shehan Semasinghe, Treasury Secretary Mahinda Siriwardhane and Central Bank Governor Nandalal Weerasinghe.

He said the deliberations underscored the paramount importance of fiscal discipline and strategic financial management in light of the evolving economic landscape. The participants examined the progress made in implementing reforms aimed at boosting the electricity and energy sectors. This included an in-depth assessment of the effectiveness of cost reflective pricing mechanisms.