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
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.
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.