ලංකාව සම්බන්ධයෙන් වූ සිය වාර්තාව ජාත්යන්තර මූලය අරමුදල මගින් එළිදැක්වීමට පියවර ගෙන ඇත.
Here are some facts:
According to the IMF Lanka Report, the ratio of Sri Lanka's GDP to debt has risen to 119%.
Sri Lanka's foreign exchange reserves fell to $ 2,204 million, the report said
The report does not state that the number has dropped to 800 million.
Debt accounts for 64.2 percent of GDP
The current government's reduction of Treasury (country) revenue by giving tax breaks to
its business cronies in 2019 is the beginning of this economic crisis. The
report (page 6) details the loss of revenue due to VAT, corporate tax, income tax and national building tax cuts.
The IMF's observations on rising inflation in the country are detailed. It states that 23 times as much money was printed in two years as it was printed from 1952 to 2020.
On page 9 of the report, it is stated that the 100% increase in the country's debt was due to the tax concessions given by Kovid to his cronies and his failure to manage the budget.
It also states that the loss of the Ceylon Petroleum Corporation without a price formula was a burden to the country's economy. It is clear that the economic crisis is linked to the fuel crisis.
The Good Governance Government (2019) received 11.6% of government revenue from taxes, which has now dropped to 7.2%, the report said.
Throughout the report, data, not words, suggest that the collapse of the Sri Lankan economy was due to the neglect of basic economic policies.
Government debt to the Central Bank of Sri Lanka increased by 9% from March 2000 to November 2021.
We must not forget that “two years with the lowest economic growth, the highest inflation
rate in 12 years, the lowest return on GDP as a percentage, the highest money
printing, 119% of GDP indebted The International Monetary Fund (IMF) has issued
its findings on the country's economy. Domestic debt (bonds), which stood at
5%, have now risen to 60%. The majority of that money is a non- erforming
investment.
The IMF has provided five tips on how to rebuild the economy with the lowest ratings in the international financial markets.
1. Change of tax concessions (VAT, income tax, corporate tax concessions) granted in 2019 (Return to pre-2019 tax system)
2. Restructuring / selling of loss-making state enterprises
3. Focusing on debt restructuring strategies
4. Take steps to control inflation (stop arbitrary printing of money, eliminate the ability of the Governor of the Central Bank and the Secretary to the Treasury to print money through the Monetary Board)
5. Determining the interest rate according to market criteria
6. Strengthen the Social Security Network
International Monetary Fund reports do not present facts that would embarrass a country. According to the principles of economics, only the path to economic data analysis of a country is pointed out.
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