Economy & Growth

IMF to assess Sri Lanka’s tax revisions in upcoming report

The IMF is reviewing recent tax revision announcements made by Sri Lanka’s president and plans to provide a detailed assessment in its staff report following Executive Board approval of the Extended Fund Facility (EFF).

Speaking at a press briefing on Thursday (19), Julie Kozack, Director of the IMF’s Communications Department, stated that while a full evaluation of the measures is not yet available, they will be addressed comprehensively in the upcoming report.

Kozack also confirmed that Sri Lanka reached a staff-level agreement on November 23 for the third review of the EFF. The Executive Board is expected to review the program in the coming months, subject to the completion of prior actions by Sri Lankan authorities. Approval would unlock $333 million for the country.