Sri Lanka agrees on tight monetary policy with IMF

SRI LANKA - Sri Lanka toed the line of the International Monetary Fund (IMF) on 15 May and agreed that a tight monetary policy would be best to support the newly floated rupee and help achieve economic stability.

The Governor of the Central Bank of Sri Lanka, A.S. Jayawardena, told a news conference that it was important to keep a tight monetary policy in a flexible exchange rate, "otherwise it could have an adverse effect on the currency."

Jayawardena's comments came shortly after the IMF on 1

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