International Monetary Fund to discuss resuming financial backing for Sri Lanka
The International Monetary Fund (IMF) is to send a team of official to Sri Lanka for discussions on resuming a financial programme with the country, IMF Managing Director Christine Lagarde had said after meeting Sri Lanka’s Finance Minister Mangala Samaraweera and Governor of the Central Bank of Sri Lanka, Indrajit Coomaraswamy.
“We agreed that a strong policy mix, with effective implementation of that agenda, is key to strengthening confidence, while putting Sri Lanka on a sustainable, high-quality growth path that would benefit its people,” Lagarde has said in a statement.
“The IMF remains ready to support the Sri Lankan authorities in these endeavors and an IMF team is scheduled to visit Colombo in mid-February to resume programme discussions.”
OSL take:
The successful discussion between officials from the Sri Lankan government and the IMF would result in the Sri Lankan economy receiving financial assistance to ensure the steady growth of the country’s economy. The implementation of IMF’s economic reforms would also help the Sri Lankan economy become more competitive and attract more foreign direct investments to the country. The IMF’s interest in discussing financial backing for Sri Lanka also indicates that the country’s economy is on the right path with the proper policies in place. Therefore, foreign investors could explore investment opportunities in Sri Lanka.
| Article Code : | VBS/AT/17012019/Z_3 |