IMF puts conditions to decide on Lanka’s request

12 Feb, 2016

The International Monetary Fund (IMF) says approving Sri Lanka’s request for fresh funding will depend on some key conditions.

Gerry Rice, Director at the IMF Communications Department said that the authorities in Sri Lanka have expressed interested in a Fund supported program as one option to address the balance of payments, pressures that they face.

Rice said that the IMF is considering the options and that will depend on the?assessment of macroeconomic vulnerabilities, the nature and size of balance of payments needs, and Government policies to address those vulnerabilities.

A technical mission to Sri Lanka to review recent developments and options for reducing the size of Sri Lanka?s 2016 budget deficit concluded recently.

Rice said that another IMF?negotiating mission to Sri Lanka could take place in late March or early April. (Colombo Gazette)

Contact admin@colombogazette.com to advertise here.

Recommended For You

Disrupt Asia 2025 shines as South Asia's new innovation powerhouse

Sri Lanka has firmly staked its claim as South Asia’s rising innovation hub with the successful completion of Disrupt Asia 2025, a four-day celebration of innovation, entrepreneurship, and technology.

23 Sep, 2025

Union Bank to raise Rupees three billion via listed debenture issue

Union Bank is pleased to announce that its Board of Directors has resolved to issue up to a maximum of Thirty Million (30,000,000), Basel III-compliant, listed, rated, unsecured/debenture(s) of Rs. 100 each to raise a maximum of Rupees Three Billion ( 3,000,000,000) to be offered to investors subject to shareholder and regulatory approvals. This issuance is expected to strengthen Union Bank’s capital base to support strategic expansion, augment its Tier 2 capital in compliance with regulatory

19 Sep, 2025

PA raises alarm over government’s decision to import spices

Sri Lanka’s globally renowned spice industry, long celebrated for its authenticity, quality and heritage, is now confronting one of its most pressing challenges. The Planters’ Association of Ceylon (PA) has voiced grave concerns following the Government’s decision to permit the importation of spices under a new regulatory framework that grants “approved enterprise” status to selected companies. While the stated objective is to process these imported spices into value-added products such as oil

17 Sep, 2025

Colombo Gazette is a leading news and entertainment website, covering stories related to Sri Lanka. The content consists of text based news, photos and videos and is linked to social media websites including Facebook, Twitter and Instagram, to provide a wider coverage for its stories.