IMF slashes SL’s economic growth forecast to 4%

The International Monetary Fund (IMF) has slashed Sri Lanka’s economic growth rate forecast for this year 4 percent from 5.3 percent it forecasted in October, 2020.

The revision from IMF is similar to that of the Asian Development Bank (ADB) which expects Sri Lanka to grow by 4.1 percent this year.

However, the Central Bank of Sri Lanka (CBSL) has a more optimistic economic growth prediction, expecting the country to grow by 6 percent in 2021.