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Saturday, 03 November 2018 - 13:01
No assessment done on Sri Lanka; says IMF
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The International Monetary Fund is monitoring a political situation in Sri Lanka and is in touch at a technical level, an official said.

Sri Lanka has missed targets in an IMF program especially in forex reserves, after the central bank stopped mopping up foreign inflows in February and de-stablized a de-facto peg with the US dollar by cutting rates and injecting new money in April.

IMF spokesman Gerry Rice said that they do not have any assessment as yet on potential program implications in Sri Lanka.

The new administration has also ended a fuel price formula that was started under the program.

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