Govt.-IMF-WB talks today

The Government will hold talks with officials of the IMF and World Bank to discuss the future support program today.

Finance Minister Ravi Karunanayake, who attended the annual meetings of the IMF-World Bank last month in Lima, Peru, said yesterday that multilateral funding agencies had expressed support to the Government’s future economic and fiscal program.

However he categorically denied that the upcoming Budget would be dictated by the IMF or World Bank. 

“It is not an IMF or World Bank Budget. The Government will implement what is good for Sri Lanka,” he added.

The Finance Minister said that there were prospects for $ 4.5 billion support from the IMF on a long-term concessionary basis. He hinted that IMF support would be via an Enhancement Facility to make the Balance of Payments situation for Sri Lanka more comfortable. 

“This support will be based on the Government’s home-grown future economic program,” he added.