The International Monetary Fund (IMF) has praised Sri Lanka’s macroeconomic policy reforms, noting that they are bearing fruit. The island nation has made significant progress in its debt restructuring efforts and is expected to reach agreements with external commercial creditors soon. The IMF’s second review of Sri Lanka’s $2.9 billion IMF bailout program is set for June 12th, and the Executive Board is expected to discuss the Article IV Consultation as well. Sri Lanka has seen rapid disinflation, robust reserve accumulation, and initial signs of economic growth while maintaining financial stability. The country’s next steps include concluding negotiations with external commercial creditors and implementing agreements with official creditors. The debt restructuring discussions have progressed, with agreements with external official creditors expected soon.