The International Monetary Fund has urged Sri Lanka to push through with pledged reforms to large state-owned enterprises.
"Reforms need to accelerate to strengthen the Sri Lankan economy's resilience to domestic and external shocks, given still significant vulnerabilities," the IMF official, Manuela Goretti said following her visit to Colombo from September 13 to 27.
"In the face of greater market volatility in emerging markets, the authorities have maintained a strong policy stance with prudent monetary policy and further fiscal consolidation," she added.
"Structural reforms need to accelerate to bring transparency, accountability, and cost-efficiency to large state-owned enterprises. In this regard, the mission commended the successful implementation of the fuel pricing reform and encouraged the introduction of an automatic pricing mechanism for electricity."
"The authorities should push ahead with their Vision 2025 to support Sri Lanka's rapid and inclusive growth through sustained efforts to promote trade openness and investment, fight corruption, enhance social protection, and encourage female labor force participation."