How IMF thumps public financial institutions exposed
It is revealed that the temporary suspension of the second tranche of the 290 million dollar loan approved by the IMF to Sri Lanka would be lifted by the end of this year by imposing strict conditions on public finances.
It is revealed in the announcement by the Central Bank of Sri Lanka made according to the official announcement issued by the IMF.
The IMF lauds the SL authorities’ reform efforts, including the significant adjustments expected to be made in the public finance sector by the end of this year. The government has already completed all preparations to sell the shares of six major government-owned banks in the Colombo Stock Market.
In addition, a considerable tax burden has to be imposed on the people again. The IMF had expressed displeasure over the inability to achieve the expected tax revenue targets presented about this year. According to various reports, the government is preparing to increase tax revenue next year.