No agreement signed with IMF; only understanding reached: Susil | Sri Lanka News

The government today informed the House that no agreement has been signed with the International Monetary Fund (IMF) and that only an understanding has been reached with the IMF staff.

Respondig to a question raised by NPP leader Anura Kumara Dissanayake, who urged the government to table the IMF staff level agreement in Parliament, Leader of the House Susil Premajayantha told Parliament that the agreement would be published after it was approved by the IMF executive board.

The Minister said the agreement reached with the IMF staff had not been published on previous occasions and that has been the practice and it would be published after it was approved by the IMF executive board.

“The agreement will be presented to the Cabinet and Parliament,” he said.

MP Dissanayake said if the staff level agreement did not contain any harmful proposals, there is no reason why it was not published.

Minister Premajayantha said the government came to an agreement on extended loan with the IMF for four years, which included several proposals such as increasing the primary account of the government from -4 to 2.5 from the Gross Domestic Product, increasing state revenue to 15% from the GDP by 2026, restructuring loss making state entities, strengthening the financial sector and eliminating fruad and corruption. Parliamentarian Prof. G.L. Peiris said these agreements would be included in the 2023 budget and they would affect the lives of the people and therefore they should be published before the approval of the IMF executive board. (Ajith Siriwardana and Yohan Perera)

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