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Saturday, 10 March 2018 - 11:51
IMF warns Sri Lanka on debts
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The International Monetary Fund says that Sri Lanka’s economy remains vulnerable to adverse shocks due to its large public debt and low external buffers.

IMF in a statement said that the economy is gradually normalising following a series of weather-related shocks in 2017 and may grow 4.4 percent this year.

This is well below the Sri Lankan Central Bank’s forecast of 5 to 5.5 percent but better than 2017’s estimated growth of 4 percent.

The IMF approved a 1.5 bn dollars' three-year loan for Sri Lanka in mid-2016 after the government agreed to toughen fiscal and monetary policy measures including tax reforms and a flexible currency exchange rate.

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