Sri+Lanka+requests+for+another+loan+from+IMF
Sunday, 07 February 2016 - 10:00
Sri Lanka requests for another loan from IMF
3,526

Views

Sri Lanka has made a formal request to the International Monetary Fund bailout package to aid its economy after a sharp slowdown in growth and with its budget deficit widening.

The IMF confirmed the island nation had asked for assistance.

Sri Lanka enjoyed a blistering economic growth rate averaging more than 8.0 percent for two years after a prolonged civil war ended in 2009.

But the pace of expansion has since slowed, falling to 4.8 per cent in the third quarter of 2015.

The IMF, which sent a mission this week to review Sri Lanka's economy, said it had warned the authorities they should make a "stronger effort" to immediately reduce the budget deficit.

Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE
HiruNews
News Image
Hiru News Programme Segments
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
916 Views
HiruNews
HiruNews
HiruNews
47,290 Views
HiruNews
HiruNews
HiruNews
18,546 Views
HiruNews
HiruNews
HiruNews
42,384 Views
HiruNews
HiruNews
HiruNews
219 Views
HiruNews
HiruNews
HiruNews
96,730 Views
Top