IMF travels to Jaffna and takes part in Pongal celebrations

by Thusiyan
Jan 17, 2024

An International Monetary Fund (IMF) delegation including Peter Breuer, the Senior Mission Chief for Sri Lanka took part in the Thai Pongal celebrations in Jaffna this week.

The IMF team is currently on a tour of the region and met with the Northern Province Governor’s P. S. M. Charles this week, where they discussed topics including de-mining, resettlement of displaced Tamils and compensation for conflict victims.

The delegation took part in traditional Tamil ceremonies that sees milk boil over the side of a traditional pot and were treated to a meal that included a plate of sweet rice.

The visit comes as Sri Lanka's economy tries to recover from its worst financial crisis in living memory with the a bailout from the global body. In 2022, Sri Lanka declared bankruptcy and defaulted on its international debt. 

At the end of last year, the IMF said Sri Lanka's public debt was at 128 percent of its gross domestic product. Sri Lanka is heavily reliant on a $3bn bailout package, part of which was initially withheld in September 2023 after Colombo failed to meet stringent conditions.

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