The International Monetary Fund Thursday warned Sri Lanka that it was dangerously busting budget targets and urged tough measures to slash subsidies and salvage the economy despite elections this year. The International Monetary Fund Thursday warned Sri Lanka that it was dangerously busting budget targets and urged tough measures to slash subsidies and salvage the economy despite elections this year. The IMF in a detail report on the state of the tsunami-battered island’s economy said the government had overspent on subsidies while failing to collect expected tax revenues so far this year.
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