The Central Bank of Sri Lanka says that the International Monetary Fund expects to disburse its first installment in the first quarter of 2023.
They point out that interest rates can be eased once again through the IMF’s Extended Fund Facility, and the market will once again have an opportunity to expand.
Its officials have emphasized this to the Government Finance Committee recently (23).
When the Committee inquired about the alternative opportunities available for the International Monetary Fund, the officials pointed out that no other International Monetary Fund institution is willing to partner with Sri Lanka in terms of debt management without the International Monetary Fund first intervening for this.
They also pointed out that with the International Monetary Fund’s program, the international community will have the credibility to once again partner with this country for future business opportunities, including debt management.
Therefore, the Central Bank officials pointed out that the support of the International Monetary Fund is essential at this time.
The committee also focused on the social reforms and their impact on complying with the conditions of the International Monetary Fund.
The officials of the Central Bank pointed out here that the International Monetary Fund is constantly concerned about the social impact on low-income communities in society and has adopted certain safeguards, such as limiting government expenditure as much as possible to minimize those impacts.
Dr. Harsha De Silva, Chairman of the Committee, emphasized recently (23) that the objective of the Committee on Government Finance is to stand up impartially for the reforms announced by the International Monetary Fund and implemented by the Central Bank.
We should have a new policy for nominations below 55 & minimum ol qualifications approved for astart
The hands of the government is tied as they have no alternative to save the country from the crisis they created. It is only the politicians who are responsible and they are the ones who robbed the country’s wealth. Now people are saddled with high costs as well as high utility charges as advised by IMF reducing the purchasing value of their income drastically. On top of this the high personal tax rates will reduce their income pushing the middle class below the poverty levels.
What is happened to CEB AND LECO management? according to IMF instructions? when they will collect the funds how settled to CPC. when they petroleum imports will come in order every day no money than what happened to the money.