IMF urges Sri Lanka to ‘modify’ international reserves target

Photo of various Sri Lankan modes of transport
Sri Lanka has has seen capital outflows turn to net inflows between May and September this year

Staff at the International Monetary Fund and Sri Lankan authorities have agreed there is a need to "modify" the nation's international reserve target, to allow it to reflect changes in capital flows.

On the conclusion of its latest review of Sri Lanka's funding programme, IMF deputy managing director Tao Zhang said the country's performance had been "broadly satisfactory", despite "challenging circumstances". But though macroeconomic conditions have improved, international reserves remain below

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