IMF seeks strong budget, narrower deficit from Sri Lanka
NEW DELHI (Reuters) -The International Monetary Fund (IMF) is looking for a strong budget and narrower deficit from Sri Lanka as it seeks funding to bridge the gap between government revenue and expenditure, the IMF mission chief for the country said on Friday. Sri Lanka plunged into its worst financial crisis in seven decades last year after its foreign exchange reserves dwindled to record lows, but since locking down a $2.9 billion IMF programme in March it has managed to partly stabilise its economy, reducing runway inflation and rebuilding reserves. However, the country has struggled to ...
Source: yahoo.com