‘No risk to country’s economy’:

IMF happy with Sri Lanka’s progress - CB Governor

Central Bank Governor, Ajith Nivard Cabraal said the country’s economy has shown positive developments and that there is absolutely no risk for the country even if there is a delay in the disbursement of the next International Monetary Fund (IMF) tranche.

The Governor said that the IMF was happy with the progress made by Sri Lanka and added that the country is having sufficient foreign reserves. “The level of reserves is such that we are comfortable to face any adversity and hence, there is no cause for any concern,” he said.

Cabraal, who is currently in Cambodia to represent Sri Lanka at the SEACHEM Governors’ Conference, said that the IMF statement is clear that they are, by and large, satisfied with the progress.

The IMF office in Colombo, issuing a statement at the conclusion of a 10-day visit by a staff team from IMF headquarters, also expressed confidence in Sri Lanka’s economy. “Overall economic conditions are improving as expected, and the economy is poised for a recovery this year.

External balances are strong, remittance inflows continue at a high rate, tourism prospects are rapidly improving, and gross reserves remain at comfortable levels,” the IMF release said.