Sri Lanka has no alternative other than IMF – CBSL chief
Dr. Nandalal Weerasinghe. (Photo: CBSL)
There is no alternative other than taking assistance from the International Monetary Fund (IMF) for reviving the country’s economy, The Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe said.
He also said that tax revisions and other reforms combined with debt restructuring are parts of the stabilisation process.
The CBSL Governor made these comments during an interview with the Director General of President’s Media, Danushka Ramanayake.
Noting that 80% indirect tax and 20% direct tax should be evolved to 60% and 40%, respectively, in order to provide relief to low-income groups, the CBSL governor proposed to continue the tax regime for at least one year.
Speaking further, he said the tax income of Sri Lanka is only behind Iran and Venezuela both with oil reserves.
Latest Headlines in Sri Lanka
- Sri Lanka turns to Indian and Russian companies to manage Chinese-funded Airport April 26, 2024
- Sri Lanka’s state revenue surges to record Rs. 834 Billion in first quarter 2024 April 26, 2024
- Army soldier killed, 9 injured in Mankulam cab-lorry collision April 26, 2024
- Electricity trade unions to take legal action against Sri Lanka Electricity Bill April 26, 2024
- Gotabaya Rajapaksa refutes Cardinal Ranjith’s allegations on Easter Sunday Attacks April 25, 2024
