Colombo, Nov 02 (BAN/ AD): Lankan economy which was shattered after deadly Easter Sunday attacks is gradually recovering as per International Monetary Fund (IMF). 6th review of Extended Arrangement under the Extended Fund Facility (EFF) was done on Friday by IMF Executive Board. It said growth is projected to strengthen to 3.5 percent in 2020, from 2.7 percent in 2019, as tourist arrivals and related activities gradually recover.
Sri Lanka’s extended arrangement was approved on June 3, 2016, in the amount of about US$1.5 billion. On May 13, 2019, the Executive Board approved an extension of the arrangement by one additional year, until June 2, 2020, with rephasing of remaining disbursements. Following the Executive Board’s discussion of the review, Mr. Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair of the Board, issued the following statement: