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* Sri Lanka stocks hit 7-week low after grim IMF report
Thu, Feb 21, 2013, 09:53 pm SL Time, ColomboPage News Desk, Sri Lanka.

Feb 21 (Reuters) COLOMBO- Sri Lankan stocks hit a seven-week low on Thursday after the International Monetary Fund painted a grim picture of the island nation's macroeconomic indicators. The main share index ended 0.08 percent weaker at 5,726.11, its lowest since Jan. 2.

The IMF said last week the economy faced high inflation and lower tax revenue risks, prompting speculation the government may turn to expensive commercial borrowing to bridge the budget gap.

Foreign investors bought a net 296.6 million rupees worth of shares, but they have been net sellers of 542 million rupees worth so far this year.

The rupee ended weaker at 127.15/20 to the dollar recovering from its lowest since Jan. 3 and from Wednesday's close of 127.35/45.

Read More:: Reuters (Source)