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