President Pledges Relief from High VAT, Taxes Amid IMF Talks

COLOMBO (News 1st); Sri Lankan President Anura Kumara Dissanayake has said that the government plans to expand social spending and offer relief to those burdened by high VAT and income taxes.

He had made these comments during a meeting with the High-Level delegation from the International Monetary Fund.

The President's Media Division said the President  Anura Kumara Dissanauake had reaffirmed the commitment to IMF objectives, and also advocated for alternative solutions to ease the burden.

While reaffirming the government's broad agreement in principle with the objectives of the IMF programme President Dissanayake also emphasized the importance of achieving the program objectives through alternative means that relieves the burden off the people, said the President's Media Division. 

A high-level delegation from the International Monetary Fund (IMF) arrived in Sri Lanka on Wednesday (02) to engage with the newly formed government led by President Anura Kumara Dissanayake.

The primary objective of the visit was to initiate discussions on the progress of the IMF Program and necessary steps towards the release of the fourth tranche of the $ 2.9 billion Extended Fund Facility.

An earlir meeting, held at the Presidential Secretariat, featured cordial discussions between the IMF delegation and the economic team of the new government. Both parties reviewed the IMF programme thus far and outlined the way forward for future collaboration.

The IMF delegation expressed appreciation for the significant changes taking place in Sri Lanka, boosting the positive outlook on Sri Lanka under the present government.

The IMF team included Dr. Peter Breuer, Senior Mission Chief; Dr. Sarwat Jahan, Resident Representative and Ms. Manavee Abeyawickrama, Economist.

Representing Sri Lanka were key members of the Economic Policy Council, including Dr. Harshana Suriyapperuma, Prof. Anil Jayantha, Chair of the Economic Policy Council & Senior Advisor to the President on Economic Affairs & finance. Mr. Sunil Handunnetti, Prof. Seetha Bandara Ranathunga, Mr. Sunil Gamage, Mr. Duminda Hulangamuwa Senior Advisor to the President, Dr. Nandasiri Kihimbiyahetti, Prof. O. G. Dayaratne Banda and Mr. Amarasena Athukorala.

The meeting marks a crucial step in reinforcing Sri Lanka’s commitment to economic stability and securing continued support from the IMF.