NewsThe International Monetary Fund on Tuesday urged Sri Lanka's central bank to rebuild international reserves, while maintaining exchange rate flexibility, and to be ready to tighten monetary policy if credit growth or inflation do not abate. Following its second review of a $1.5 billion loan programme, the IMF also said its mission and Sri Lankan authorities discussed the need to push forward with reforms due to an uncertain external environment. It also noted that while all fiscal quantitative targets through end-December were met, net international reserves fell below target and progress on implementing structural benchmarks was “somewhat uneven with some of the reforms lagging behind intended timelines”. COLOMBO, REUTERS

Source: Sunday Times March 07, 2017 09:59 UTC