NewsA visiting delegation from the International Monetary Fund (IMF) has said that while there is substantial progress in stepping up revenue collection and automating revenue administration in Sri Lanka, net international reserves have fallen short of the target. It also said, “progress on implementing structural benchmarks was somewhat uneven with some of the reforms lagging behind intended timelines. Accordingly, the mission and the authorities have discussed decisive actions to maintain the reform momentum in light of uncertain external environment”. The statement was issued on Tuesday at the end of a IMF staff visit to discuss progress of the economic reforms programme. In this regard, the mission and the authorities discussed IMF technical assistance to facilitate transition to flexible inflation targeting framework.

Source: Sunday Times March 07, 2017 12:56 UTC