IMF releases $215mln to Sri Lanka
February 3, 2011 07:16 am
The IMF said on Wednesday it was releasing $US216.6 million ($A215.12 million) in financing for Sri Lanka, applauding the government for strengthening the economy and macro-economic management.
It was the latest disbursement of an 18-month, $US2.6 billion ($A2.58 billion) facility to help the island nation rebuild after the end of a decades-long conflict with Tamil rebels.
The total disbursed so far, after Wednesday’s announcement, is $US1.5 billion ($A1.49 billion).
“The Sri Lankan authorities have made good progress under the fund-supported program and macroeconomic developments continue to be favourable,” IMF deputy managing director Naoyuki Shinohara said in a statement.
“Growth is strengthening; inflation remains in check, despite some pressure in food and energy prices; and imports have recovered.” AAP reports.
It was the latest disbursement of an 18-month, $US2.6 billion ($A2.58 billion) facility to help the island nation rebuild after the end of a decades-long conflict with Tamil rebels.
The total disbursed so far, after Wednesday’s announcement, is $US1.5 billion ($A1.49 billion).
“The Sri Lankan authorities have made good progress under the fund-supported program and macroeconomic developments continue to be favourable,” IMF deputy managing director Naoyuki Shinohara said in a statement.
“Growth is strengthening; inflation remains in check, despite some pressure in food and energy prices; and imports have recovered.” AAP reports.
