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US Affirms Support for Sri Lanka’s Security and Sovereignty, Backs IMF Bailout Efforts

The White House has confirmed that the United States is backing Sri Lanka’s security and sovereignty, as well as its ongoing endeavors to fulfill the fiscal, monetary, and governance components of its International Monetary Fund (IMF) bailout program.

In a brief statement released on Friday, the White House revealed that US National Security Advisor Jake Sullivan conveyed this support during a recent telephone conversation with Sri Lanka’s National Security Advisor, Sagala Ratnayake.

“Their discussion encompassed various aspects of bilateral engagement, including US assistance towards Sri Lanka’s security and sovereignty,” the statement elucidated.

Additionally, Sullivan and Ratnayake delved into Sri Lanka’s ongoing progress in fulfilling the fiscal, monetary, and governance aspects of its IMF program, and explored future prospects for collaboration, as per the release.

The IMF announced on March 21 that it had reached a staff-level agreement with Sri Lanka for the next phase of the bailout program, facilitating access to USD 337 million from the nearly USD 3 billion bailout sanctioned in 2023 for the financially strained nation. Two tranches of USD 330 million each were disbursed in March and December 2023.

Furthermore, the global lending institution commended Colombo, stating that macroeconomic policy reforms are beginning to yield positive results.

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