The Executive Board of the International Monetary Fund (IMF) said there was continued weakness in the structure of Sri Lanka’s public finances and cited “reasons for concern” as it concluded the Fourth Post-Program Monitoring.

In a press release on Wednesday the IMF said Sri Lanka’s “economic outlook remains uncertain, and will depend to a large extent on the course set for economic policies in the coming months”.

“Deterioration in the overall balance of payments, the loss of central bank foreign exchange reserves, the weak state of public finances, and growing public debt are reasons for concern,” said the statement.

“Despite continued access to international debt markets, these trends suggest that financial risks for Sri Lanka have increased,” it added. “To mitigate these risks, the authorities should take appropriate corrective actions to safeguard macroeconomic stability and lay the foundation for durable and inclusive growth. Improvements in the business climate, reform of state owned enterprises, and a more open trade regime are key to boosting competitiveness and growth.”

Indian soldiers who died during an operation as part of the country's disastrous peacekeeping mission in 1987, were remembered at a ceremony in Jaffna earlier this month.

Consul General of India in Jaffna Shri A. Natarajan and Commander Security Force Jaffna Major General Nandana Udawatta placed wreaths at the monument in the Palali high security zone, occupied by the military.

The soldiers died during Operation Pawan, an attempted landing in Jaffna's main stadium, which was beaten back by the Liberation Tigers of Tamil Eelam, then in control of the town.

The Indian Peacekeeping Forces (IPKF) are accused of committing several atrocities and war crimes against the Tamil population, during their occupation of the region. They ultimately withdrew after sustained resistance by the LTTE.

Sri Lanka is committed to international human rights law and there is renewed political commitment and will in the country, to strengthen human rights law compliance mechanisms, Permanent Representative of Sri Lanka in Geneva, Ravinath Ariyasinhe said at an ICRC conference.

The envoy said Sri Lanka was also committed to advancing measures to prevent and respond to all forms of violence including sexual and gender based violence.

Sri Lanka will conduct an economic forum with the participation of world-renowned economists, including some from Harvard University, to provide advice on the implementation of the government's economic plan, Deputy Foreign Minister Harsha de Silva said to the Daily Mirror on Wednesday.