Sri Lanka’s economic recovery remains challenging, IMF says

CASH-STRAPPED Sri Lanka’s economy showed “tentative signs of improvement” but recovery remains challenging and Colombo must pursue painful reforms, the International Monetary Fund (IMF) said today.

The IMF’s deputy managing director Kenji Okamura said the country was emerging from its unprecedented crisis thanks to reforms including the doubling of taxes, spending cuts and the scrapping of subsidies.