NO need IMF to boost investor confidence

COLOMBO (News 1st); Governor of the Central Bank of Sri Lanka, Ajith Nivad Cabraal had stated that there is NO need to go to the IMF to boost investor confidence, since investor confidence is already there in Sri Lanka.

He stated that Sri Lanka's bond auctions have been fully subscribed and the interest rates are moderate.

He further stated that the Sri Lankan stock market is one of the best performing markets at the year around this time.

Moreover, if one had a look at Sri Lanka's GDP growth, it's growing at 5% this year, he said.

He stated that General Conditions of the banking sector are also in in good shape.

In addition, "we don't really need to add too much to the investor confidence. Because if we're saying that we need to go to the IMF to boost investor confidence.", he said.

The Central Bank Governor made these comments to bloomberg.