Mar 06, 2017

IMF Chief’s visit postponed

International Monetary Fund (IMF) Managing Director Christine Lagarde will not be visiting Sri Lanka as scheduled, the IMF said yesterday.

“Ms. Christine Lagarde, Managing Director of the IMF, had been tentatively scheduled to visit Sri Lanka later this month.

Unfortunately, due to an unforeseen change in her schedule, she will not be able to visit the country at that time. She is looking into the possibility of visiting Sri Lanka in the near future and we will keep you informed of her plans, IMF Spokesperson Gerry Rice said in a statement.

An IMF delegation is currently in Colombo to review progress of a US$1.5 billion loan approved in June 2016 which was mainly to strengthen foreign reserves.

About the IMF delegation visit, Finance Ministry Secretary Dr R H S Samaratunga told the Daily News earlier “This is a three year programme and IMF is conducting periodic reviews. We, on the part of the Treasury, briefed them on the fiscal sector of the country as to how we are going to manage the budget deficit and related matters. The ongoing

computerization programme of the Inland Revenue Department and the current status of Value Added Tax (VAT) were also explained. How to improve the performances of state owned institutions such as the Sri Lankan Airlines, National Water Supply and Drainage Board, Ceylon Electricity Board and Ceylon Petroleum Corporation were also discussed. The requirement is to get them at least to the break-even level of performance,” he said.

Meanwhile, Finance Minister Ravi Karunanayake had told foreign media that Lagarde’s proposed visit would have been a courtesy call while she was en route to another country in the region.


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