Government hides – IMF reveals

Although the government has announced that the country’s economy has recovered, the Deputy Managing Director of the International Monetary Fund, Kenji Okamura, emphasized yesterday (12) that it is still risky.
This was emphasized after the IMF approved the US$336 million of the third loan tranche given to Sri Lanka. This indicates that the IMF is not satisfied with the process of restructuring foreign debt. Therefore, it has been emphasized that the debt should be paid off immediately, and social and progress expenses should be strictly controlled.
It has been further stated that the fact that inflation has been controlled and the foreign exchange issue has been avoided cannot be accepted as positive economic indicators and that economic growth should be achieved in a way that can sustainably face those fluctuations. It has also been pointed out that the sustainability of the entire economy depends on the progress made in reducing foreign debt.

The post Government hides – IMF reveals appeared first on LankaTruth English.