Market conditions in Sri Lanka normalizing – IMF

(FASTNEWs|COLOMBO) – The market conditions in Sri Lanka are normalizing, says Camilla Andersen, the Assistant Director at the Communications Department of the International Monetary Fund.

Responding to a question during the IMF press briefing in Washington, Anderson said, “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.”

The Central Bank of Sri Lanka should continue to follow the interdependent approach, Anderson commented in response to a question on monetary policy.

“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 we’ve 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 those terrible terrorist attacks that were experienced by the country,” Anderson further said speaking on the IMF’s stand with Sri Lanka.