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IMF tells Sri Lanka to rebuild reserves, be ready to tighten - Nasdaq.com

IMF tells Sri Lanka to rebuild reserves, be ready to tighten - Nasdaq.com: "To this end, it is important for the government to continue
on the revenue based fiscal consolidation and generate adequate
resources to support its social and development objectives while
maintaining debt sustainability," the IMF said in a statement.
Deputy Central Bank Chief Nandalal Weerasinghe said though
the end-2016 foreign reserve target was missed, authorities are
working on end-June 2017 goals.
"The central bank has already allowed flexible exchange rate
from early this year," he told Reuters.
On Jan. 3, central bank Governor Indrajith Coomaraswamy said
defending the rupee with foreign exchange reserves "doesn't seem
sensible" as it has always been followed by a sharp depreciation
in the currency.
IMF tells Sri Lanka to rebuild reserves, be ready to tighten - Nasdaq.comSocialTwist Tell-a-Friend

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