The International Monetary Fund commended the policies taken by the government to address the imbalances in the economy.

IMF Mission Head John Nelmes predicted that inflation will be around 9.5 percent, but core inflation would remain lower.

These projections are the highest in the post war period, he said addressing the media on Friday in Colombo.

The IMF delegation who was assigned to wrap up the eight and final review of the Stand By Agreement was upbeat of the country’s economic progress and lauded tough policy changes implemented in February that included ending Central Bank currency intervention.