A Sri Lankan delegation held discussions on taxes and revenue targets with the International Monetary Fund (IMF) during a recent visit to the IMF headquarters in the United States, according to Minister Vijitha Herath. The talks focused on existing taxes, including Value Added Tax (VAT), other revenue streams, and strategies for achieving set revenue targets.
At the G-24 press briefing during the IMF-World Bank Annual Meetings on October 22, the G-24 countries advocated for the establishment of a common debt framework for middle-income nations, using Sri Lanka as an example of a nation in need of such support. Currently, the framework is limited to low-income countries. According to Iyabo Masha,
The International Monetary Fund (IMF) has raised concerns about the elevated uncertainty surrounding the global economic outlook, citing the potential impact of elections and policy changes. In its latest World Economic Outlook (WEO) report, titled “Policy Pivot, Rising Threats,” the IMF noted that nearly half of the world’s population is either going to the polls
The Ambassador of the Republic of Korea, Miyon Lee, paid a courtesy visit to President Anura Kumara Dissanayake at the Presidential Secretariat on October 9th. The meeting marked a significant step in strengthening the bilateral relations between Korea and Sri Lanka. Ambassador Lee congratulated President Dissanayake on his inauguration and extended best wishes from Korean
In a letter to Sri Lanka’s newly elected President Anura Kumar Dissanayake, US President Joe Biden expressed a commitment to strengthening ties between the two nations, focusing on economic development, regional security, and democratic governance. The letter, described by Sri Lanka’s President’s Media Division (PMD) as a “significant gesture of diplomatic goodwill,” followed Dissanayake’s recent
The Ceylon Chamber of Commerce has praised the Sri Lankan government’s successful consultations with the International Monetary Fund (IMF) and the Official Creditor Committee (OCC), which cleared the way for an in-principle agreement with private bondholders on restructuring International Sovereign Bonds (ISBs). This development is seen as a crucial step toward achieving external debt restructuring
The International Monetary Fund (IMF) has stirred political discussions around dedollarization in Sri Lanka through a report on liquidity operations and monetary policy. Despite no public demand to undermine foreign currency deposits, the IMF has recommended introducing statutory reserve requirements (SRR) for foreign exchange liabilities as part of a broader agenda to promote Sri Lanka’s
The International Monetary Fund (IMF) is set to announce the dates for the third review under the Extended Fund Facility (EFF) program for Sri Lanka, as stated by Ms. Julie Kozack, Director of the Communications Department at the IMF, during a recent press briefing. Ms. Kozack noted the progress made since the IMF Executive Board
Sri Lanka’s newly elected President Anura Dissanayake’s economic team held its first meeting with an International Monetary Fund (IMF) delegation. The discussions, which took place at the Presidential Secretariat, focused on reviewing the current IMF program and exploring future collaboration. The IMF delegation, which included Peter Breuer (Senior Mission Chief), Sarwat Jahan (Resident Representative), and
Sri Lanka’s economic stability is closely tied to its International Monetary Fund (IMF) program, with reviews conducted every six months to assess the country’s progress on key economic reforms and performance criteria. These reviews determine whether Sri Lanka can access the next tranche of funds from the IMF, critical for the country’s recovery. As Sri