IMF urges Sri Lanka to tighten monetary policy, raise tax to address debt woes

Sri Lanka must tighten monetary policy, raise taxes and adopt flexible exchange rates to address its debt crisis, a senior International Monetary Fund official said on Tuesday .

"We've had very good, fruitful, technical discussions on preparations for the negotiations with authorities over the past weekend and couple of days before," said Anne-Marie Gulde-Wolf, acting director of the IMF's Asia and Pacific Department, speaking at an online news conference. "The requirement for fund lending will be progress toward debt sustainability," Gulde-Wolf said, calling on Sri Lanka for measures to increase tax revenues to address critical spending needs.

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