Stocks in play: Pan American Energy Corp

Reuters

Sri Lanka budget lays down plans to clinch IMF deal; markets not enthused

COLOMBO (Reuters) -The crisis-hit Sri Lankan economy can turn around by the end of 2023 if budget policies, which are not limited to the International Monetary Fund’s recommendations, are followed, President Ranil Wickremesinghe said on Monday. IMF recommendations have only been looked at to stabilise the economy, Wickremesinghe, who is also the country’s finance minister, told parliament, delivering the first annual budget since he took office in July. The budget included measures aimed at reducing the government’s deficit as Colombo seeks to secure an IMF bailout package to help the country recover from its worst financial crisis in decades.

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