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CBSL to engage with international agencies including IMF within national policy framework

The Central Bank of Sri Lanka plans to engage with international agencies including the International Monetary Funds (IMF) remaining within the overall national policy framework, the CBSL governor said.
"We hope to engage with the IMF and other international agencies remaining within the overall national policy framework, negotiating for changes in the IMF programme where changes are considered required," Prof. W. D. Lakshman said today (6) whilst delivering the Central Bank roadmap for 2020.

During the year 2019, Sri Lanka went through the fifth and sixth reviews of the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) successfully and received the sixth and seventh tranches of disbursements.

The year 2019 also witnessed a deviation of the fiscal outcome from the envisaged targets owing to the weak performance in government revenue collection in the context of stagnant economic activity. Although lower than envisaged, a surplus is expected however in the primary balance in 2019.

speaking further  Prof. Lakshman noted that the Central Bank will continue to ensure that the government’s financing requirements are met at the lowest possible cost with a prudent degree of risk, while assuring debt sustainability over the medium term.

The medium term debt management strategy (MTDS) remains focused on containing the foreign currency debt as a share of total debt, improving the average time to maturity (ATM) of the foreign currency debt portfolio, and limiting the debt maturing within one year.