Although Sri Lanka’s macro economy is gradually stabilizing, the country’s economic recovery process is still in the ‘infancy level’ and has yet to reach the broader population, says Peter Breuer, the Senior Mission Chief of the International Monetary Fund (IMF) to Sri Lanka.

Mr. Breuer has also expressed that property tax will help Sri Lanka to take the quantum leap to achieve the IMF programme’s goals.

A group of officials from the IMF arrived in Sri Lanka on 11 January to engage in discussions for a period of one week, while studying the process of economic reforms carried out within the country, following the IMF’s approval of the first review under the Extended Fund Facility (EFF) arrangement for Sri Lanka.

During a discussion with President Ranil Wickremesinghe, the IMF delegation congratulated the country on completing the first review under its program and highlighted the positive outset of the program, recognizing the challenging reforms undertaken by Sri Lanka and their significant impact on the domestic population.