The International Monetary Fund (IMF) has lifted Sri Lanka from the list of Poverty Reduction and Growth Trust (PRGT) eligible countries and provided a middle income emerging market status, the Central Bank (CB) said on Thursday.
It said the IMF decision was made on January 11. The upgrade would facilitate Sri Lanka to project itself strongly in international financial and capital markets, the CB statement said.
The statement said the Executive Board of the IMF took into consideration several factors in making its decision, which included strong economic performance in recent years, availability of an IMF Stand-by Arrangement to cushion the impact of the global crisis, and declining public debt and Sri Lanka’s access to international capital markets.
.jpg)
