IMF says achieving deficit of GDP in country will be challenging

IMF says achieving deficit of GDP in country will be challenging

IMF says achieving deficit of GDP in country will be challenging

Written by Staff Writer

04 Mar, 2015 | 8:59 pm

The International Monitoring Fund says that achieving a deficit of 4.4 percent of GDP in the country will be challenging.

A staff mission, of the International monetary fund led by Todd Schneider conducted Post-Program Monitoring discussions in the country from  February 23

The mission met with government and Central Bank officials, as well as civil society and private sector representatives.

Head of Mission of IMF Todd Schneider said that they welcome the government’s commitment to good governance increased transparency, and financial discipline. Adding that the mission and the authorities agreed that medium-term fiscal consolidation should remain a linchpin in macroeconomic policy ensuring a durable reduction in Sri Lanka’s public debt.

When questions were raised as to whether further funds will be provided to Sri Lanka, Todd Schneider stated that the IMF does not see a BOP need , and that they are not considering financing for a BOP need.

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