SL should stay committed to the multi-pronged disinflation strategy - IMF Managing Director

• Institutions and governance frameworks require deep reforms
• The momentum of ongoing progressive tax reforms should be maintained  
• Ongoing efforts to tackle corruption should continue

Following the Executive Board discussion on Sri Lanka, IMF Managing Director Kristalina Georgieva said that Sri Lanka should stay committed to the multi-pronged disinflation strategy to safeguard the credibility of its inflation targeting regime.   

“Sri Lanka has been facing tremendous economic and social challenges with a severe recession amid high inflation, depleted reserves, an unsustainable public debt, and heightened financial sector vulnerabilities. Institutions and governance frameworks require deep reforms. For Sri Lanka to overcome the crisis, swift and timely implementation of the EFF-supported programme with strong ownership for the reforms is critical.”