Pledge to address corruption and reduce economic burden on true lancome. And that resonated with citizens who have been burdened with high living costs and rising poverty, even at a time when the economy overall seem to have stabilised. Now, anura kumara dissanayake promise to cut income taxes and slashes tells taxes on food and medicine, his also promised to renegotiate terms of the imf programme to make it easier for sri lankan. But experts say that he can manage to realistically deliver and fund the populous promises, while balancing sri lankan s. The foreign reserve is at $6 billion that can last forjust three months. Imf bailout line that forced his territory in order to boost government revenues is also halfway through and a deal to restructure the huge foreign debt by still not finalised. Stabilising the economy and manoeuvring lenders especially bilateral partners india and china will be one of the first test. This party so far has had a no experience in running a government, e
ISLAMABAD (Reuters) -The disbursement of $1.1 billion by the International Monetary Fund (IMF) will help Pakistan achieve greater economic stability, Prime Minister Shehbaz Sharif said on Tuesday, amid discussions for a new loan programme. The funding was the second and final tranche of Pakistan's $3 billion standby arrangement with the IMF which it secured last summer to help avert a sovereign default. "The disbursement will bring more economic stability in Pakistan," Sharif said in a statement from his office, adding that the standby arrangement was important in saving the South Asian nation from defaulting on its external liabilities.
Prime Minister Dinesh Gunawardena said Premier Li Qiang had promised Beijing would also help the South Asian nation’s debt restructuring process continuously.
Sri Lanka's central bank cut interest rates Tuesday as the prime minister visited China seeking a debt restructuring deal crucial to maintaining an IMF bailout."We are in the final stages of restructuring our foreign debt and the prime minister is in China for this purpose," Gunawardana told reporters in Colombo.
Sri Lanka's cabinet has approved increasing the minimum wage by 40%, a top official said on Tuesday, to support workers struggling with living costs as the economy slowly shakes off its worst financial crisis in decades, helped by an IMF bailout. Sri Lanka's economy collapsed in early 2022 after its foreign exchange reserves dwindled to record lows triggering soaring inflation, currency depreciation and a default on its foreign debt. Revision of the minimum wage from 12,500 rupees ($42) to 17,500 rupees was approved by cabinet to support people living in poverty, said cabinet spokesman and Transport Minister Bandula Gunawardana.