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Thursday, 06 April 2023 22:51

ADB spells out five key areas to succeed Extended Fund Facility Featured

The Asian Development Bank (ADB) Deputy Country Director Utsav Kumar this week outlined five areas Sri Lanka must focus on to succeed in the US$3 billion Extended Fund Facility (EFF) extended by the IMF, adding the country has a long road to recovery.

“Sri Lanka encountered an unprecedented economic crisis following back-to-back contraction and is likely to be followed by a tepid recovery,” he said at ADB’s Serendipity Knowledge Program on Tuesday which focused on Sri Lanka’s economic crisis.

ADB Deputy Country Director’s five areas of focus include; social safety net, proper communication strategy, reform transparency on SOEs, staying in the course avoiding pitfalls and looking beyond the four years of EFF to put the economy on a stable footing.

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