International Business News: The second tranche of the USD 2.9 billion IMF bailout for cash-strapped Sri Lanka will be finalized within a month, according to the central bank gove
COLOMBO (Reuters) -Sri Lanka's central bank resumed interest rate cuts on Thursday to boost growth and as the government seeks to lift revenue and repair its balance sheets in a bid to secure continued financial support from the International Monetary Fund. The Central Bank of Sri Lanka (CBSL) lowered the standing deposit facility rate and the standing lending facility rate by 100 basis points each to 10% and 11%, respectively, it said in a statement. "The Board arrived at this decision following a careful analysis of the current and expected developments," the CBSL said in the statement.