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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyToday at 1:36 pm by serene

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyToday at 11:50 am by The Invisible

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyToday at 7:50 am by ruwan326

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyYesterday at 12:26 pm by nuwanmja

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyFri Jul 19, 2019 9:32 pm by nihal123

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyFri Jul 19, 2019 7:45 pm by The Invisible

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyFri Jul 19, 2019 10:47 am by Yin-Yang

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyFri Jul 19, 2019 6:26 am by serene

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyThu Jul 18, 2019 7:43 am by serene

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyWed Jul 17, 2019 7:27 am by sanjulanka

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptySun Jul 07, 2019 12:25 pm by dhanurrox

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyFri Jul 05, 2019 6:11 pm by serene

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyWed Jul 03, 2019 1:37 pm by serene

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyMon Jul 01, 2019 11:33 am by serene

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyFri Jun 28, 2019 2:11 pm by Ethical Trader

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyFri Jun 28, 2019 7:46 am by serene

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyFri Jun 28, 2019 7:33 am by serene

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyThu Jun 27, 2019 8:27 pm by ruwan326

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyWed Jun 26, 2019 2:22 pm by nuwanmja

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyTue Jun 25, 2019 5:28 pm by කිත්සිරි ද සිල්වා

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyTue Jun 25, 2019 6:37 am by nihal123

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyMon Jun 24, 2019 6:54 pm by hammurabi

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyMon Jun 24, 2019 2:22 pm by කිත්සිරි ද සිල්වා

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyFri Jun 21, 2019 5:25 pm by Ethical Trader

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptyMon Jun 17, 2019 8:58 pm by spw19721

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Sri Lanka to miss IMF forex reserve target; seek waiver EmptySun Jun 16, 2019 7:12 am by NIRMALSG

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Sri Lanka to miss IMF forex reserve target; seek waiver

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Sri Lanka to miss IMF forex reserve target; seek waiver Empty Sri Lanka to miss IMF forex reserve target; seek waiver

Post by The Invisible on Mon Aug 06, 2018 10:45 am

ECONOMYNEXT - Sri Lanka has missed a June forex reserve target in an International Monetary Fund program, and the island will seek a waiver of the performance criteria, Central Bank Governor Indrajit Coomaraswamy said.

Sri Lanka has already met the fiscal deficit target, he said.

The forex reserve target is a performance criteria, which has to be met to pass an IMF review.

Coomaraswamy said the target was set last year, when the central bank was collecting forex reserves easily, but external conditions had since changed, and there have been outflows from emerging markets.

Analysts have also warned the central bank against injecting cash into the banking system through term reverse repo and outright Treasury bill purchases. When the central bank's domestic assets grows expanding demand, it is not possible to collect reserves.

In additional a pick-up in credit also makes it more difficult to collect forex reserves.

Collecting forex reserves, especially from current flows tends to squeeze credit and economic activity, dampening growth.

Slower reserve collection may help boost growth. (Colombo/Aug03/2018)
The Invisible
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