A Sri Lankan delegation discussed tax revenue targets with the IMF, focusing on increasing VAT and other taxes for the 2025 budget.While no final decisions were made, the IMF prefers revenue hikes over spending cuts to addr...

The Central Bank of Sri Lanka reports that from January to August 2024, the budget deficit reduced significantly to Rs. 911.0 billion from Rs. 1,470.7 billion in 2023, driven by an increase in government revenue and grants...

Sri Lanka’s next IMF review is delayed, while talks with bondholders and Citibank’s involvement in debt restructuring aim to help the nation exit default.  

Sri Lanka will be removed from the IMF's surcharge list starting November 1, 2024, due to reforms that raise the threshold for surcharges from 187.5% to 300% of a country's quota, significantly reducing its borrowin...