The International Monetary Fund (IMF) opines that the reforms under the authorities’ Vision 2025 are important in promoting rapid and inclusive growth. Sri Lanka’s protectionist trade regime should be gradually liberalized through reform of tariffs, para-tariffs, and non-tariff barriers, as well as closer regional integration.
This was subsequent to the IMF Staff Concluding their 2018 Article IV Mission with Sri Lanka.
The mission met with Prime Minister Ranil Wickremesinghe, State Minister of Finance Eran Wickramaratne, State Minister of National Policies and Economic Affairs Dr Harsha De Silva, Governor of the Central Bank of Sri Lanka Indrajit Coomaraswamy, other public officials, and representatives of the business community, civil society and international partners. Robust implementation of the new IRA and the one-stop shop for FDI will improve the investment climate. Efforts to combat corruption should be stepped up, including through greater transparency in fiscal and SOE management and a stronger AML, CFT regime. Addressing Sri Lanka’s sizable gender gap and boosting female labor force participation will require labor market reforms and effective gender budgeting, including through vocational training, flexible work arrangements, safe transportation, and child care support.
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