Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* IMF says no discussions on Sri Lanka's education system
Fri, May 30, 2014, 08:59 pm SL Time, ColomboPage News Desk, Sri Lanka.

May 30, Colombo: The International Monetary Fund denied that the lender has influenced the Sri Lankan government to reduce funding for free education as the Opposition has claimed.

Todd Schneider, Head of the International Monetary Fund (IMF) mission to Sri Lanka who is currently in the island for the Article IV consultations, stressed that IMF did not discuss any matters related to the education system of Sri Lanka with the government.

Speaking to media, the IMF mission chief said the IMF discussions were completely based on macro-economic matters and the country's education was not discussed in any of the previous discussions with the government.

Sri Lanka's Opposition and United National Party Leader recently accused the government of slashing funds for free education in the country on the recommendations by the IMF.

He said the government has signed a MoU with the IMF to reduce the resources for free education and an IMF delegation is in Sri Lanka at the moment to monitor the government's cost cutting measures.

IMF mission chief said Sri Lanka's Macro economic performance in last year has exceeded expectations with the real GDP growth reaching 7.3 percent while the inflation declined to below five percent.

He noted that the external current account has been strengthened supported by a robust recovery in goods exports as well as solid growth in services and inward remittances.

The IMF representative commended the government for containing the budget deficit to 5.9 percent of the GDP and projected the economy to grow at 7 percent this year, lower than the Central Bank's projection of 7.8 percent.

However, Schneider said his delegation pointed out to the government that a low tax revenue mobilization remains a concern.

The mission also announced that Dr. Eteri Kvintradze, currently the Resident Representative of the IMF in Bangladesh has been appointed as the IMF representative to Sri Lanka.

ColomboPage - Recent 10 Stories
Sri Lanka negotiating release of nine sailors in Yemen
-- [2 hours ago]
Sri Lankan President condoles the demise of Tamil Nadu politician Jayalalithaa
-- [6 hours ago]
Sri Lanka tourist arrivals increase 16 percent in November 2016
-- [7 hours ago]
Sri Lanka Tourism kicks off an underground campaign in UK train stations
-- [7 hours ago]
No cuts of funds from budget for Provincial Councils - Finance Minister
-- [8 hours ago]
Lanka Sugar earns Rs. 1 billion in profits for the first time
-- [8 hours ago]
Sri Lanka's per capita fish consumption rises due to bountiful harvest
-- [8 hours ago]
United States breaks ground on the new U.S. Embassy in Colombo, Sri Lanka
No truth to the rumors that security in North and East are in danger - Defense Secretary
President opens renovated Thriposha factory in Kandana

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.