SL’s 2019 economic growth at 3.5% inspite of April attacks

SL’s 2019 economic growth at 3.5% inspite of April attacks

Written by Staff Writer

17 May, 2019 | 9:10 pm

Colombo (News 1st): The International Monetary Fund stated that it will hold its forecast for Sri Lanka’s 2019 economic growth at 3.5% in spite of the devastating 04/21 bombings, citing that it was too early to assess financial damage.

Reuters reported that IMF Mission Chief for Sri Lanka Manuela Goretti said the extension of the $1.5 billion Extended Fund Facility to June 2020 would give the chance for authorities to achieve the targets laid out in the program.

IMF officials also believe Sri Lanka’s economy will normalize parallel to the security situation.

The report added that IMF also remained positive of Sri Lanka’s debt repayment capacity, as immediately after the attacks market pressure in the country has remained contained.

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