Xinhua world economic news summary at 0900 GMT, Oct. 20 bignewsnetwork.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bignewsnetwork.com Daily Mail and Mail on Sunday newspapers.
The International Monetary Fund (IMF) and Sri Lanka have reached a crucial staff-level agreement which is now subject to the approval by IMF management and the IMF Executive Board.
After constructive discussions with the authorities in Colombo and during the Annual Meetings in Marrakech, IMF Seni
NEW DELHI (Reuters) -The International Monetary Fund (IMF) is looking for a strong budget and narrower deficit from Sri Lanka as it seeks funding to bridge the gap between government revenue and expenditure, the IMF mission chief for the country said on Friday. Sri Lanka plunged into its worst financial crisis in seven decades last year after its foreign exchange reserves dwindled to record lows, but since locking down a $2.9 billion IMF programme in March it has managed to partly stabilise its economy, reducing runway inflation and rebuilding reserves. However, the country has struggled to increase public revenue, with the IMF projecting a 15% shortfall this year.
Sri Lanka reaches staff-level agreement with IMF on first review of EFF Arrangement china.org.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from china.org.cn Daily Mail and Mail on Sunday newspapers.