ADB forecasts 8% GDP growth

Sri Lanka has made great progress compared to many South Asian countries which are lagging in economic growth, said Chief Economist of the Asian Development Bank (ADB), Dr. Narhari Rao at the launch of Asian Development Outlook (ADO) 2011 on Wednesday.

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Middle East crisis:

Tea exports slow down

Sri Lanka’s tea exports to the Middle East are on a rocky road due to the turmoil in the region which is shrouded with political mayhem and economic instability. The Middle East accounts for a major share of Sri Lankan tea exports and a crisis in the region could dwindle revenue to the industry.

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Progress under SBA stable:

IMF to conduct semi annual reviews

The International Monetary Fund (IMF) has decided to conduct semi annual reviews on Sri Lanka considering the progress of the economy and its track record, said IMF Resident Representative, Dr. Koshy Mathai at the completion of the sixth review of the Stand-By Arrangement (SBA) on Tuesday.

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