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Former Prime Minister Ranil Wickremesinghe has requested an immediate debate on the International Monetary Fund (IMF) report on Sri Lanka in Parliament.

He stated that it is of utmost importance the Government presents their plan in regards to the IMF report and that Parliament discusses it as the Government has chosen to engage the IMF for financial assistance.

The IMF on Friday (25) recommended a number of measures for macroeconomic stability in Sri Lanka and also to mitigate adverse impacts on the vulnerable and the poor.

The IMF made the recommendations in its staff report made for the global lender’s Executive Board following the conclusion of its Article IV consultations with Sri Lanka.

It noted that the country faces mounting challenges, including public debt that has risen to unsustainable levels, low foreign currency reserves, and persistently large financing needs in the coming years.

The report also recommended implementing a credible and coherent strategy to restore macroeconomic stability and debt sustainability while protecting vulnerable groups and reducing poverty through strengthened, well-targeted social safety nets.

 

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