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Sri Lanka seeks waiver as it misses IMF forex target

Sri Lanka’s Central Bank Governor said his government would be seeking a waiver from the International Monetary Fund after it missed a June forex reserve target.

Indrajit Coomaraswamy said that the forex reserve target was set last year, but “external conditions had since changed,” according to Economy Next.

Sri Lanka will not seek a waiver of the performance criteria, he added.

At a review earlier this year, the IMF said Sri Lanka has “many challenges” and called for Colombo to pick up the pace of slow structural reforms.