Economy & Market

Sri Lanka should seek to revise IMF targets: CBSL Governor

Sri Lanka should seek to change the targets agreed with the International Monetary Fund (IMF) as part of the Extended Fund Facility (EFF) arrangement, the Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe noted.

Speaking during TV Derana’s current affairs program 360° last night (12), Dr. Nandalal Weerasinghe said a discussion in this regard is expected to take place when a team of the IMF is due to visit later this month.

The IMF team is scheduled to arrive in Sri Lanka this month to discuss the fifth review under the 48-month Extended Fund Facility.

The CBSL Governor said it is inevitable that targets need to be revised with unexpected events such as Cyclone Ditwah which caused massive destruction to the country’s infrastructure and the livelihoods of the people.

He said the annual budget which was planned before the arrival of the cyclone and other elements need to be considered before agreeing on the targets during the upcoming review under the EFF programme.

Source - Ada Derana