Engagement with IMF will continue with changes if needed: CB

Tuesday, 7 January 2020 01:27 - - {{hitsCtrl.values.hits}}

The Central Bank yesterday reassured that the engagement with the International Monetary Fund (IMF) will continue with changes if necessary.

“We hope to engage with the IMF and other international agencies remaining within the overall national policy framework, negotiating for changes in the IMF program where changes are considered required,” Central Bank Governor Prof. W.D. Lakshman told the 2020 Road Map launch.

During the year 2019, Sri Lanka went through the fifth and sixth reviews of the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) successfully and received the sixth and seventh tranches of disbursements.

So far under the three year Extended Fund Facility program Sri Lanka has received $ 1.3 billion via seven tranches. The program was extended till June.

Governor Prof. Lakshman said the continuation of the EFF program with the IMF is likely to be instrumental in supporting external sector stability in the medium term.

However he stressed: “A sustained improvement in the external sector however, requires policies aimed at promoting domestic production and export of goods and services and inflows of the non-debt-creating type.”

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