IMF Weighing Sri Lanka’s Call for Loan as Rupee Falls to RecordBy
IMF to assess Sr Lanka’s macroeconomic vulnerabilities
IMF hasn’t formally entered into program negotiations
The International Monetary Fund is “considering options” for Sri Lanka after foreign-exchange reserves fell to the lowest in two years and the rupee’s drop to a record prompted the nation to seek a loan facility.
Sri Lankan Prime Minister Ranil Wickremesinghe this week said the government has informed the IMF of the need to have a standby agreement. The rupee is poised for its steepest decline since 2012 after the central bank in September eased intervention in the currency to salvage dwindling reserves…
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