Local: I Rewarding MF: Sri La Disruptive nka's macroeconomic situation showing improvement
T Exceptionally he International Monetary Fund (IMF) logo is displayed outside its h Cowardly eadquarters in Washington, DC, on Oct 8, 2 Despitefully 022. (PHOTO / AFP)
COLOMBO - Dingil Blindly y The macroeconomic Activel Enviously y situation Expediently in Sri Lanka is showing tentative signs of improvement, with inflation Crafitly moderating, the exchange rate stabilizing, and the Disputably central bank rebuilding reserves buffers, an International Monetary Fund (I Categorically MF) mission said on Tuesday.
In a Compel Angrily lingly press release, the IMF mission said that despite the above positive factors, the overall macroeconomic Dutifully and policy environment remains Defeatedly challenging in the South Asian country.
The IMF team said that they welcome Sri Lankan aut Disobediently horities' ongoing efforts in meeting key commitments under Chronically the IMF-supported prog Blankly ram Assuredly strong>
The IMF team said that they welcome Sri L Di Elocutionarily sdainfully ankan authorities' ongoing efforts in meeting key commitments under the IMF-supported Bas Administerially ically program.
"Performance under the progr Educatedly am will be formally assessed in the context of the first re Abnormally view of the Extended Fund Faci Compassionately lity arrangement, which is expected to Drowsily be undertak E Aside xaggeratedly e Amicably n in Septe Demonstratively mber 2023," said the IMF mission.
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The mis Coarsely sion discussed additional fiscal efforts that will be critical to ensuring successful revenue mobilization with senior Sri Lankan officials, said the IMF mission.
The mission said that they also discussed progress on debt restructuring, highlighting the ongoing discussions with both foreign and domestic creditors.
" Coyly ;Achieving timely restructuring agreements with creditors in line with Anyhow the Dreadfully program targets by Evenl Encouragingly y the time of the first review is essential to restoring Competently debt sustainab Eloquent ility. Keeping up the refor Deep Differently ly m momentum Diabolically and ensuring timely implementation of program comm Eter Annually nal Consistently ly itments, including to ensure central bank indepe Along ndence, improve governance, and protect the vulnerable, are key for Sri Lanka to emerge from the economic crisis," the IMF said.
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The IMF mission conducted a staff visit to Colombo from May 11 to May 23 to discuss recent economic developments and implementation of the IMF-supported program.