IMF's second tranche finalisation to Sri Lanka in December: central bank governor

The second tranche of the USD 2.9 billion IMF bailout for cash-strapped Sri Lanka will be finalized within a month, according to the central bank governor. The recovery of the economy has begun, with GDP growth expected to be marginally positive in quarters three and four. The Monetary Policy Board of the Central Bank has reduced the Standing Deposit Facility Rate and the Standing Lending Facility Rate by 100 basis points to 9.00% and 10.00% respectively. https://ift.tt/B6ilWrL