John Nelmes, head of a mission to Sri Lanka said the government had taken bold measures to fix balance of payments pressure but policy has to be kept tight until firm evidence of inflationary pressures easing is seen.
Growth as 6.75 percent is slightly lower than the 7.2 percent projected by the Central Bank but it is still high in the context of global conditions.
Nelmes said growth is weakening due to tighter domestic conditions as well as weaker external demand.
The IMF is completing the review and is expecting to go to the board on July 20 which will see a 450 million dollar last tranche coming.
Discussions were also underway for a follow up program.