President urges IMF to adopt balanced approach in economy recovery program

Tuesday, 19 November 2024 02:10 - - {{hitsCtrl.values.hits}}

During talks with visiting IMF team, reaffirms Govt.’s readiness to collaborate on advancing economic recovery
Highlights importance of rebuilding public trust, ensuring IMF program addresses fiscal challenges, while aligning with citizens’ needs and aspirations
Prioritises combating child poverty, malnutrition, supporting differently-abled individuals, committing to efficient allocation of social spending
IMF delegation notes past underutilisation of social spending to which President pledges proactive measures for better resource use
Emphasises his administration’s resolve to uphold transparency as part of its mandate

President Anura Kumara Disanayake yesterday called on the International Monetary Fund (IMF) to adopt a balanced approach that acknowledges the hardships faced by the citizens, particularly in the wake of inflation and economic pressures.

He made these remarks in a meeting with the visiting IMF delegation led by Senior Mission Chief Peter Breuer. Several Cabinet Ministers, and Treasury Secretary Mahinda Siriwardena were associated during the meeting which focussed on the next steps in the ongoing IMF program.

The President reaffirmed the Government’s readiness to collaborate with the IMF to advance Sri Lanka’s economic recovery within the context of the mandate.

The IMF delegation also congratulated President Dissanayake on his decisive electoral victory, expressing optimism about the potential for enhanced cooperation under the newly formed Government.

The President underscored his administration’s responsibility to uphold the people’s mandate, insisting that the success of the IMF program hinges on rebuilding public trust in governance.

He opined that the success of this partnership will depend on the effective implementation of policies which not only address fiscal challenges, but also resonate with the needs and aspirations of its people.

Dissanayake asserted his Government’s commitment to addressing the pressing needs of the people, whilst pursuing structural economic reforms.

The President also assured that under his leadership, social spending allocations would be utilised effectively, with priority given to combatting child poverty and malnutrition and providing better support for differently-abled individuals.

The IMF delegation noted that under the previous administration, allocations for social spending had not been fully utilised.

In response, the President also pledged proactive measures to ensure efficient resource allocation and utilisation, aiming to deliver tangible benefits to vulnerable populations.

Governance and anti-corruption were also central themes of the discussions, reflecting one of the key components of the IMF program.

The President reiterated his administration’s resolve to fight corruption, noting that this commitment was integral to the mandate granted by the people.