Dr. Subramanian, the Executive Director of the International Monetary Fund, says that Sri Lanka has completed all the requirements for International Monetary Fund relief.
He also said that the relevant process will be completed after the final certifications of the major lending countries.
The Executive Director of the International Monetary Fund (IMF) also said that the political determination displayed by the Sri Lankan leadership to implement tax increases in difficult times should be highly appreciated.
Dr. Subramanian, who met Prime Minister Dinesh Gunawardena at the Prime Minister’s Office in Colombo today (26), said that he appreciates the commitment of the authorities in this country to speed up the reforms to revive the economy.
Dr. Subramanian served as the Chief Economic Adviser to the Government of India from 2018 to 2021.
The Prime Minister briefed the IMF delegation on the measures taken by the government to meet the domestic demand and increase agricultural production for export in order to meet the unprecedented economic challenges faced by the country.
The Prime Minister emphasized the need for welfare for the poorest sections of the society as well as measures taken to reduce non-essential imports and increase export products.
Dr. Subramanian also said that a safety net for economically vulnerable groups is essential in preparing plans to restructure debt and revive the economy, as pointed out by the Prime Minister.
He also stressed that the public sector is guaranteed minimum wages, but many others have lost their sources of income, so they must be prepared to make sacrifices.