Thursday, February 25, 2010

Lanka's economic conditions improving as expected, says IMF

The International Monetary Fund (IMF) office in Colombo issued the following statement today at the conclusion of a 10-day visit by a staff team from IMF headquarters, states a media release from the Central Bank of Sri Lanka.

"An IMF mission led by Dr. Brian Aitken visited Colombo during February 16-25 to hold discussions on performance and policies under the $2.6 billion Stand-By Arrangement, approved by the Board on July 24, 2009. The mission met with officials from the Central Bank, the Ministry of Finance & Planning, the Presidential Tax Commission, and other government ministries and departments, as well as representatives of civil society and the private sector.

"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.
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