The International Monetary Fund (IMF) on Tuesday warned that the Sri Lankan government's inaction on critical areas was putting the country's economic outlook at risk, reported Reuters.
"Despite positive growth momentum, the Sri Lankan economy is facing challenges due to the difficult external environment and a period of significant political transition," the IMF executive board was quoted by the news site as saying.
"While the government seeks to undertake sizable fiscal consolidation and tackle high priority structural reforms, growth momentum can be sustained with a solid commitment to reform, a clear direction on macroeconomic policies, and restoration of market confidence," the organisation added.
The comments came after the IMF approved $1.5 billion loan over a three year period.
See more here.
"Despite positive growth momentum, the Sri Lankan economy is facing challenges due to the difficult external environment and a period of significant political transition," the IMF executive board was quoted by the news site as saying.
"While the government seeks to undertake sizable fiscal consolidation and tackle high priority structural reforms, growth momentum can be sustained with a solid commitment to reform, a clear direction on macroeconomic policies, and restoration of market confidence," the organisation added.
The comments came after the IMF approved $1.5 billion loan over a three year period.
See more here.
