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Sri Lanka Finance Minister meets World Bank regional team

COLOMBO (EconomyNext) – Sri Lanka’s Finance Minister Ravi Karunanayake has met the senior leadership of World Bank’s regional team following his talks with the lender’s Managing Director in Washington over concessionary funding.

World Bank’s Vice President South Asia Annette Dixon, Director Asia Pacific Vivek Pathak, World Bank Country Director Françoise Clottes, and head of International Finance Corporation in Sri Lanka Adam Sack.

Sri Lanka wants to reduce funding costs and is also seeking balance of payments support from the International Monetary Fund after foreign reserves were hit by repaymens of an earlier Fund loan and higher credit growth financed excess liquidity that was not permanently sterilized by the monetary authority.