Flexible exchange rate-IMF

14 December 2010 03:40 am - 8 - {{hitsCtrl.values.hits}}

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(Reuters) - The International Monetary Policy on Tuesday said Sri Lanka has made substantial progress in turning its fiscal policy toward sustainability, but urged more exchange rate flexibility to ensure economic competitiveness.

"While challenges remain, the authorities have made substantial progress toward fiscal and external sustainability," the IMF said in a statement after finishing a review mission before releasing the sixth tranche of a $2.6 billion loan.

"We continue to believe that the exchange rate should retain the flexibility to ensure that the economy remains
competitive."

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Comments - 8

micky Tuesday, 14 December 2010 04:38 AM

Both government and IMF telling that there is a growth in SL ecomony.. but we dont feel it.. I DONT KNW Y

malkanthi Tuesday, 14 December 2010 04:43 AM

Certainly our exchange rate is very flexible which lead the business community to gamble on export and imports.

mohamed133 Tuesday, 14 December 2010 04:58 AM

But still cost of living is very high and poor people are suffering.. when it will be stopped? Now now more war and where our money goes?

selvyn Tuesday, 14 December 2010 05:42 AM

As a lending institution, IMF is invariably one-sided and only mindful to strategies to recovery process than relief-orientated at a time when poor countries need concession desperately especially people can't afford to die looking for unseen future comforts.

rif Tuesday, 14 December 2010 06:31 AM

IMF trying make SL to poor nation

Ranil Tuesday, 14 December 2010 06:48 AM

Because, you are not in this planet

vasu patiya Tuesday, 14 December 2010 09:03 AM

IMF the old alleged 'white elephant' gradually becoming black.

KHKaru Tuesday, 14 December 2010 01:30 PM

My limited knowledge of economics tells me that the present parity of Rs. 111for USD 1 is going to hurt our exports although it may help the imports.

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Flexible exchange rate-IMF

Comments - 8

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