Governor of the Central Bank of Sri Lanka (CBSL), Ajith Nivard Cabraal today (14) reiterated that Sri Lanka does not have a necessity to approach the International Monetary Fund (IMF) for economic support.
Cabraal told Bloomberg this morning that Sri Lanka is comfortably able to meet its repayments and therefore did not have a necessity to go to the IMF.
The Governor noted that there were several foreign inflows including government-to-government agreements that are expected to come in to help Sri Lanka’s economic conditions.
Cabraal added that Sri Lanka’s tourism industry is also expected to be revived by this December.
Meanwhile, the Monetary Board has decided to maintain the Standing Deposit Facility Rate and the Standing Lending Facility Rate of the Central Bank at their current levels of 5.00 per cent and 6.00 per cent, respectively.