The International Monetary Fund (IMF) says market conditions in Sri Lanka are normalizing.
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 the interdependent 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 loans 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.