Current IMF Program Should Be The Last, Says Sri Lanka's President

COLOMBO (News 1st); President Anura Kumara Dissanayake has emphasized that Sri Lanka must treat the current Extended Fund Facility (EFF) with the International Monetary Fund (IMF) as the final opportunity to stabilize and rebuild the nation’s economy.

Speaking at the launch of National Tax Week, the President delivered a candid assessment of past economic missteps, attributing the country’s financial crisis to politically motivated decisions that ignored sound economic principles.

“We failed to collect taxes properly. We delayed tax reforms to suit political agendas, not economic logic,” the President said. “That’s how we ended up in this crisis — one we created ourselves.”

He stressed that moving forward, all economic decisions will be based solely on economic fundamentals, not political ideologies.

Key Economic Targets Highlighted:

- Government revenue must reach 15.1% of GDP this year.

- A primary budget surplus of 2.3% must be maintained.

- Spending limits and revenue goals are now subject to external oversight due to IMF conditions.

“We are no longer fully in control. We are under supervision — in economic probation,” the President admitted. “But we must regain our independence by meeting our own targets, set by ourselves, for ourselves.”