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Thursday, 16 June 2016 - 11:45
IMF Informs Sri Lanka To Limit Tax Liberalization
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The International Monetary Fund says that the three-year, 1.5 billion dollar loan it approved on June 3rd for Sri Lanka under the Extended Fund Facility to support the country's economic reform agenda will help Sri Lanka navigate macroeconomic policy adjustments and a more difficult external environment.

Surging imports, falling exports, slowing remittances, tepid foreign direct investment, and a steady outward march of capital from government securities markets gave rise to macroeconomic imbalances.

According to the IMF, the government's strategy to address short-term imbalances and medium-term challenges rests on six pillars: Fiscal consolidation, Revenue mobilization, Public financial management, State enterprise reform, Enhancing monetary policy, and Trade and investment facilitation.

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