Now that IMF is gone, putting the house in order is Sri Lanka’s own responsibility

To or not to have IMF

A press release issued by the Central Bank last week just before the conclusion of the negotiation with IMF announced that the Sri Lankan authorities had decided not to get any more financing facility for correcting the balance of payments or BOP imbalance in the country because, “there appears to be a very limited need to build up a further cushion in external reserves through traditional IMF Balance of Payment (sic) support programs, such as Stand-By Arrangements and Extended Fund Facilities” (available at: www.cbsl.gov.lk ).