AKD reaffirms commitment to IMF

Friday, 4 October 2024 00:00 - - {{hitsCtrl.values.hits}}

President advocates for alternative solutions to ease burden on people

In a significant meeting yesterday, President Anura Kumara Dissanayake engaged directly with the International Monetary Fund (IMF) to discuss the progress of Sri Lanka’s on-going four-year $ 3 billion worth Extended Fund Facility (EFF) program.

The President met the visiting IMF delegation led by Director of the Asia Pacific Department, Krishna Srinivasan and included Senior Mission Chief Dr. Peter Breuer.

Dissanayake reaffir-med the Government’s broad agreement in principle with the objectives of the IMF program, but emphasised the importance of achieving these objectives through alternative means that relieves the burden off the people.

The President stated that the Government plans to provide relief to those who are struggling due to high VAT and income taxes.

The IMF appreciated President Dissanayake’s willingness to commit to the program’s goals and agreed to discuss the alternative approaches proposed by the Sri Lankan Government.

Additionally, the two parties discussed the initiation of the third review of the program. While there have been delays due to upcoming General Elections, President Dissanayake assured the IMF of the Government’s dedication to continuing the program without disruption and facilitating the third review process.

The President was accompanied by key Sri Lankan officials, including Central Bank Governor Dr. Nandalal Weerasinghe, Secretary to the Treasury Mahinda Siriwardena, Dr. Harshana Sooriyapperuma, Senior Advisors to the President Prof. Anil Jayantha and Duminda Hulangamuwa.

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