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Previous IMF approach was a failure: Bandula

30 Dec 2021

The International Monetary Fund (IMF) had tried to save rupee in the past, and that failed as well said Minister of Trade Bandula Gunawardana. He made this statement while speaking to the media yesterday (29). "From 2016 to 2019 the country was governed according to the conditions of the IMF. They introduced a fuel price formula in line with that and also increased taxes including VAT. That is why they tried to control the value of the Sri Lankan Rupee as well, but everything failed," stated Gunawardana.

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