Public Financial Management Law will enhance fiscal responsibility – IMF Mission Chief Breuer
IMF Senior Mission Chief for Sri Lanka Peter Breuer yesterday said that the Public Financial Management Law will help strengthen fiscal framework and enhance fiscal responsibility.
“The Public Financial Management’ law has now been sent to Parliament, which will help to strengthen the fiscal framework and enhance fiscal responsibility,” he said.
Breuer added that the law will ensure fiscal discipline. “This law will ensure that funds are being spent by the government as intended,” he said.
Addressing a press conference, Breur admitted that Lanka has made remarkable progress in the recovery process even though the country is still not out of danger.
Breur said that the IMF adapts to the democratic process and when Sri Lanka calls for elections, the IMF will discuss authorities how the IMF can adopt its programme.
“It is important to note it is up to the people of Sri Lanka to decide on the upcoming democratic process. From our perspectives achieving the program objectives is the key priority to give Sri Lanka an chance to emerge from one of the worst crisis in its history.
“Sri Lanka has made good progress in terms of getting the recovery going, but the country really isn’t out of the woods yet. It is important to safeguard the hard won gains. Priority is to continue the program to achieve sustainable and inclusive growth,” he said.
Breuer said the IMF is willing to listen to alternative proposals from rival political parties but said it was necessary to stick with the benchmarks set in the bailout deal.
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