Wednesday June 19, 2019

Sri Lanka looks to complete IMF program in 2019: CB Governor

Jan 02, 2019 10:52 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT -  Sri Lanka is hoping to complete a 3-year program with the International Monetary Fund program in 2019, Central Bank Governor Indrajit Coomaraswamy said.

"We look to complete the Extended Fund Facility in 2019," he said at presenting a road map for monetary policy the central bank for 2019.

He said progress was made on a staff-level agreement with the IMF until October 26, before a domestic political crisis put the program on hold.

Coomaraswamy said the Central Bank is confident of resuming work on the staff-level agreement in the coming weeks.

The Central Bank missed foreign reserves target under the program in June.

Sri Lanka is now facing a new period of currency pressure. (Colombo/Jan02/2018)


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