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IMF SAYS SRI LANKAN ECONOMY IS IMPRESSIVE

Sep 26, 2011 5:45:56 AM - itnnews.lk

The International Monetary Fund (IMF) yesterday stated that in the face of the global downturn, the performance of the Sri Lankan economy has been impressive.

IMF Deputy Managing Director Naoyuki Shinohara told the Daily Financial Times that the Sri Lankan economy suffered a lot during the conflict days and now things are different. Foreign capital is coming to Sri Lanka after a long period of conflict. Commenting on foreign investments to Sri Lanka, Shinohara said that the level of foreign capital coming to the country was still low, but insisted that there was huge potential. Sri Lanka needs to improve its business environment further. However, he said they are satisfied with the way the economy is heading.”  The Deputy Managing Director also noted that the seventh review of the Stand-by Agreement was expected to conclude at the end of the year.