Tuesday, Apr 22, 2025 | 04:00 PM - 04:45 PM
Location: Cedar Hall HQ1-1-660
OVERVIEW
During this event, we will showcase how a programmatic and country-centric engagement with the Sri Lankan authorities and other stakeholders is supporting the economic recovery and helping restore the sustainability of public finances. Following the announcement of Sri Lanka’s first-ever sovereign default in April 2022, which led to the country’s worst economic crisis, the IMF Board approved in March 2023 an Extended Fund Facility arrangement to help restore macroeconomic stability and debt sustainability. Key program goals include enhancing revenue mobilization, improving public financial and debt management, and managing fiscal risks. IMF’s capacity development efforts have been carefully tailored to focus on empowering Sri Lankan officials in the design and delivery of their transformational fiscal policy and the management of reforms. At the mid-point mark of the IMF-supported program, the provision of technical assistance has already resulted in tangible improvements in revenue mobilization and reinstated much-needed fiscal discipline.
SPEAKERS
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Mahinda Siriwardana Secretary to the Treasury and Ministry of Finance, Planning and Economic Development in Sri Lanka
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Mr. Siriwardana assumed duties as Secretary to the Treasury and the then Ministry of Finance, Economic Stabilization and National Policies on April 8, 2022. Since then, he was reappointed twice to the same position by both the subsequent presidents of Sri Lanka. He was a Deputy Governor of the Central Bank of Sri Lanka (CBSL) between February 2020-April 2024. He joined CBSL in 1991 and had over 33 years of service in the Bank. Mr. Siriwardana was on release to the International Monetary Fund (IMF) as the Alternate Executive Director for the constituency comprised of Bangladesh, Bhutan, India and Sri Lanka from July 2017 to October 2019. He holds a Master of Arts (MA) Degree in Economics and a Postgraduate Diploma in Economic Development from Vanderbilt University, USA and a Bachelor of Arts (BA) (Special) Degree in Economics from the University of Kelaniya.
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Ozlem Aydin Economist, Fiscal Affairs Department, IMF
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Ms. Aydin has advised IMF member countries on a broad range of public finance management (PFM) issues, including budget reforms, fiscal responsibility frameworks, public investment management, and PFM legal and institutional frameworks. She has over 15 years of experience working on public financial management-related matters. Prior to joining the IMF’s Fiscal Affairs Department, Ms. Aydin worked as a consulting counsel at the Legal Department of the IMF, and as a senior associate at the Turkish Treasury.
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Peter Breuer Former Mission Chief, Asia & Pacific Department, IMF
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Peter Breuer was Senior Mission Chief at the International Monetary Fund. Mr. Breuer was responsible for overseeing the team responsible for managing the relationship with Sri Lanka, including the ongoing IMF-supported program. He is also Division Chief at the Asia Pacific Department. Previously, as Chief of the Debt Capital Markets Division he managed a team analyzing sovereign debt risks and providing advice on sovereign debt management, the development of local capital markets, and on sovereign debt restructurings. Peter previously jointly managed a team that analyzes risks to global financial stability and authors the flagship Global Financial Stability Report. He led or co-led the Financial Sector Stability Assessments for the United States of America, Luxembourg, and Finland. Peter headed the IMF’s office in Ireland as Resident Representative during the EU-IMF program in 2011-14. In previous roles, he worked on a wide range of policy issues in international finance and countries in Latin America. Peter holds a Ph.D. and M.A. from Brown University, a M.Sc. from the London School of Economics, and a B.A. from Vassar College.
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Cindy Negus Senior Economist, Fiscal Affairs Department, IMF |
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Ms. Negus has advised IMF member countries on governance, tax, and customs administration issues. Before joining the IMF, Cindy spent 20 years at the Canada Revenue Agency, where she held leadership positions in legislative affairs, VAT compliance, and international tax, serving as Canada's Competent Authority for tax purposes. Additionally, she spent several years at the Canada Border Services Agency, where she led customs modernization, aimed at enhancing revenue and optimizing commercial importation processes.
