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    IMF Chief denies discussing pruning of educational budgets

    May 31, 2014

    The International Monetary Fund (IMF) denies discussing any matters  with the government of Sri Lanka  related to pruning of budgetary allocation for education in Sri Lanka.

    At a media briefing in Colombo the head of staff mission visiting Sri Lanka, Todd Schneider said the IMF discussions with the government were entirely based on Macro-economic matters and did not discuss  the matter on education even in its previous discussions with the government ..Todd Schneider further said the Sri Lanka's Macro economic performance in last year has largely exceeded expectations. The real GDP growth reached 7.3 percent while the inflation declined to below five percent which is a significant victory.  The external current account has strengthened supported by a robust recovery in goods exports as well as solid growth in services and inward remittances.


    The head of IMF staff mission also commending  the government for containing budget deficit to 5.9 percent of the GDP, expressed belief that Sri Lanka's economy will grow at 7 percent this year under these circumstances.


    A group of IMF representatives are currently in Sri Lanka under the series of discussions held to consult member countries on economic matters.  Speaking further,  
    Meanwhile, Dr. Eteri Kvintradze has been appointed as the IMF representatives to Sri Lanka. (KH/SI)

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