The Central Bank of Sri Lanka needs to make a “concerted effort” to repair its “low” reserve buffers, staff at the International Monetary Fund said on February 28, as they agreed to restart the flow of funding to the country.
The staff-level agreement paves the way for the IMF executive board to agree to disburse the next tranche of funding under Sri Lanka’s programme. The IMF’s fifth review was derailed in late 2018 as political turmoil engulfed the South Asian nation.
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