IMF released the report that Basil Rajapaksa refused to release

Local
March 26, 2022

The International Monetary Fund (IMF) has released its report on Sri Lanka.

The report says that the Sri Lankan economy has been severely affected by the corona pandemic.

According to reports, it has reached a more severe level due to the loss of tourism revenue and the closure of the country.

Today, Sri Lanka has a fiscal deficit of more than 10 percent of GDP. Sri Lanka’s public debt rose to 119 percent of GDP last year, the report said.

At present, inflation in Sri Lanka is in double digits and the government has not been able to contain single-digit inflation.

A controversy arose between Finance Minister Basil Rajapaksa and former Prime Minister Ranil Wickremesinghe over the report at the last All Party Conference.

The Minister of Finance stated that this report is only a draft and that the Government of Sri Lanka has challenged it and therefore cannot provide it.