IMF Urges Sri Lanka to Diversify Exports Amid Tariff Uncertainty
- CNL Reporter
- April 25, 2025
- Political
- IMF
- 0 Comments
The International Monetary Fund (IMF) has emphasized the need for Sri Lanka to diversify its export markets and foster a more investment-friendly environment to ensure economic stability and growth.
At the 2025 Spring Meetings of the World Bank and IMF, Krishna Srinivasan, Director of the Asia and Pacific Department, highlighted that recent tariff changes have complicated economic forecasting for Sri Lanka. He noted that these sudden policy shifts disrupted discussions with Sri Lankan authorities and made it difficult to establish a clear macroeconomic framework.
Tariffs, particularly affecting the vital garment industry, pose significant risks. Srinivasan stressed that not only Sri Lanka, but all countries, should focus on regional integration and export diversification to manage such uncertainties and reduce dependence on any single trade partner.
The IMF continues to engage with Sri Lankan authorities to address these challenges and support sustainable recovery efforts.
