An International Monetary Fund (IMF) mission team led by Messrs. Peter Breuer and Masahiro Nozaki visited Colombo from June 20 to 30, 2022 to discuss IMF support for Sri Lanka and the authorities’ comprehensive economic reform program. Ms. Anne-Marie Gulde-Wolf, Deputy Director of the IMF’s Asia and Pacific Department, participated in policy discussions.

At the end of the mission, Messrs. Breuer and Nozaki issued the following statement:

Land Valuation Indicator (LVI) for Colombo District increased by 17.9 per cent on year-on-year basis to 178.7 during the second half of 2021. The annual increase and the semi-annual increase (11.9 per cent) of LVI, showed the highest increase in LVI observed since 2017.

All sub-indicators of LVI, namely Residential LVI, Commercial LVI and Industrial LVI contributed to the overall increase. Industrial LVI recorded the highest annual increase of 21.1 per cent, followed by Commercial LVI and Residential LVI.

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