NewsSri Lanka has met all targets set by the International Monetary Fund (IMF) for its $1.5 billion loan, except the net internal reserves (NIR), Finance Minister Ravi Karunanayake said on Monday. The global lender had a two-week-long review discussion on the island nation's present economic and financial situation, ever since it disbursed the second tranche in November. However, NIR target could not be met due to huge bond outflow,” Karunanayake said. The IMF stated on Sunday that Christine Lagarde, IMF's managing director, will not be visiting Sri Lanka this month as she had been tentatively scheduled to. The central bank had net purchased $109.45 million from the market, the official data showed in the second half of 2016.

Source: Sunday Times March 06, 2017 11:48 UTC