manusath-derana

IMF denies recommending cut down on education budget

May, 30, 2014

The International Monitory Fund (IMF) today said that it has not recommended to the Sri Lankan Government to cut down budget on education, as claimed by the country’s main opposition party.

The IMF insists that spending on education is vital of the country.

Opposition Leader Ranil Wickramasinghe, during a recent press briefing, alleged that the government has reached an agreement with the world body to abolish free education.

He said that an IMF delegation is currently in Sri Lanka to monitor the implementation of the Memorandum of Understanding (MoU) that it had entered into to gradually reduce the state’s financial allocation for education.

However, the head of the IMF staff mission visiting Sri Lanka, Mr. Todd Schneider denied the accusations saying education budgets was not the delegation’s area of expertise and that they believe increasing funds allocated for education is important.

Mr. Schneider was responding to a question put forward by a reporter during a press conference held in Colombo today, at the end of their visit from May 20-30 to conduct discussions for the 2014 Article IV consultation – the IMF’s regular exchange of economic views with member nations.