IMF says market conditions in Sri Lanka normalising

Saturday, 29 June 2019

The International Monetary Fund (IMF) says market conditions in Sri Lanka are normalising.Camilla Andersen, Assistant Director at the IMF Communications Department said in response to a question that on June 24th, the country successfully tapped the international bond market for 2 billion at five- and ten-year maturities, and that issuance was well oversubscribed.

In response to a question on monetary policy, Andersen told reporters in Washington that the Central Bank of Sri Lanka should continue to follow inter dependent approach. Adjusting policy rates as warranted by evolving macro-economic conditions.She also noted that on May 13th, the IMF’s Executive Board completed the Fifth Review of Sri Lanka’s 1.5 Billion loan under the Extended Fund Facility, and so far the IMF has disbursed 164 million.That agreement has included an extension of the program until June 2020, to help Sri Lanka anchor macroeconomic stability in the wake of the Easter Sunday attacks that were experienced by the country.

The transcript of IMF Press Briefing on June 27, 2019 is as follows:

MS. ANDERSEN: Good morning everyone, both to you here in the room, and to those who are watching online. Welcome to this Press Briefing on behalf of the International Monetary Fund. I’m Camilla Andersen with the Communications Department. As usual our briefing this morning is embargoed until 10:30 a.m., and that’s Washington Time. If you allow me, as we always do, I’ll make a few announcements before turning to your questions. On June 28th and 29th, that’s Friday and Saturday, Managing Director, Christine Lagarde; and First Deputy Managing Director, David Lipton, will be in Osaka, Japan, to attend to G20 Summit.

The following week on July 5th and 6th, Madame Lagarde will attend the Plenary Session at the B7 Business Summit in Aix-en-Provence in France