The United States has welcomed signs of economic stabilization in Sri Lanka, as well as the country’s steadfast commitment to the IMF program and reforms, which are expected to lay the groundwork for recovery, financial governance, and future growth.
This announcement came during the 5th Sri Lanka-USA Partnership Dialogue, which concluded in Washington, D.C., over the weekend.
Sri Lanka expressed sincere appreciation for U.S. economic assistance during the recent crisis, which totaled more than a quarter-billion dollars. The United States continues to support Sri Lanka’s debt restructuring and economic and governance reform agenda to promote sustainable growth.
Both countries reiterated their intent to explore new opportunities to enhance market access, bilateral trade, investment, and tourism. The United States also expressed its commitment to supporting Sri Lanka’s progress in its IMF program by encouraging private-sector investment, enhancing its capacity to combat corruption, and addressing food insecurity for vulnerable populations.
Sri Lanka welcomed the role of the U.S. International Development Finance Corporation (DFC), which is committing $553 million to support the development of the West Container Terminal at the Port of Colombo, providing critical infrastructure and jobs.
The United States welcomed Sri Lanka’s goal to produce 70 percent of its electricity from renewable energy by 2030 and to attain carbon neutrality by 2050. Sri Lanka expressed appreciation for ongoing U.S. grant assistance to help meet these goals, including technical assistance to support energy sector reform and a pipeline of renewable energy projects.
