COLOMBO – The first review of Sri Lanka’s International Monetary Fund (IMF) program is scheduled to go to the lender’s Executive Board for consideration on December 12.
Sri Lanka officials were expecting the review to be completed in December as soon as official creditors gave their assurances.
According to the notice Sri Lanka had missed one performance criterion and has requested modifications.
Sri Lanka has outperformed on a number of quantity targets including inflation. In addition to quantity PCs there was also one non-accumulation of arrears.
There would also be a re-phasing of access. The review was originally expected around September with another review based on December data, leading to September and March disbursements.
-economynext.com
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