Sri Lanka’s New Government Halts Key IMF Reforms, Scraps Electricity Board Privatisation

Sri Lanka’s new National People’s Power (NPP) government has reversed key IMF-backed reforms, including scrapping the privatisation of the Ceylon Electricity Board (CEB). The government, led by Anura Kumara Dissanayake, criticized the reforms as incompatible with its mandate. The decision delays the IMF’s third bailout review, essential for releasing the fourth tranche of the $3 billion rescue package.