IMF benchmarks cannot be changed - President

COLOMBO (News1st); President Ranil Wickremesinghe has reiterated that Sri Lanka must adhere to the benchmarks set by the International Monetary Fund (IMF).

Addressing media heads, the President emphasized the importance of implementing the agreement reached with the IMF. He dismissed claims of altering the IMF program, stating that successful implementation is crucial for Sri Lanka's economic recovery.

Wickremesinghe cautioned against promises of changing the IMF benchmarks, asserting that such changes are unprecedented. He explained that the IMF's approval hinges on the feasibility of proposed measures, such as tax increases or subsidies, in terms of revenue and expenditure.

The President underscored the inflexibility of the IMF's benchmarks, emphasizing the need to maintain the agreed-upon revenue and expenditure figures.