Sri Lanka's central bank unveils six-month plan to stabilise economy

Sri Lanka’s central bank governor unveiled on Friday a six-month roadmap for putting the economy back on track and assured global investors and lenders of timely debt repayments while maintaining macroeconomic stability.

Governor Ajith Nivard Cabraal, while announcing a range of measures, also reiterated that the island nation would not seek any bailout from the International Monetary Fund.

Cabraal, making his first major policy address since his re-appointment as governor last month, sought to assure investors that Sri Lanka was aware of the gravity of its economic problems and would work fast to address them.

He said fears of a default were “misplaced”