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IMF releases $216.6 million for Lanka

3 February 2011 01:45 am - 18     - {{hitsCtrl.values.hits}}

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The IMF said Wednesday it was releasing $216.6 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, $2.6 billion facility to help the island nation rebuild after the end of a decades-long conflict with Tamil rebels.

The total disbursed, after Wednesday's announcement, is $1.5 billion.

"The Sri Lankan authorities have made good progress under the Fund-supported programme 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." (AFP)

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  Comments - 18

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  • I Hussein Thursday, 03 February 2011 05:47 AM

    Why Cabraal? Isnt it his job and its a burgen for the country.
    Well I thought they were saying that IMF or WB support is not needed.

    mike Thursday, 03 February 2011 06:03 AM

    well done to da govt! very good progress. now let those so called youth work harder & smarter to prosper & pay back these loans.

    Punchi Putha Thursday, 03 February 2011 06:03 AM

    Half of it goes into the pockets of our politicos.

    Faqi Thursday, 03 February 2011 06:34 AM

    I thought they said that they do not want any help from the IMF?

    Konde bendapu china Thursday, 03 February 2011 06:57 AM

    So Far So Good CB,I still remember CBK Era what happen with exchange Rate and So On

    Thas Thursday, 03 February 2011 07:16 AM

    OK, it's time to fill the pockets again, by the SHARKS of Govt of SL.

    Ryan Thursday, 03 February 2011 08:40 AM

    Food prices are not the decisive factor anymore. Pls arrive in 21st Century Sri Lanka.

    Ryan Thursday, 03 February 2011 08:36 AM

    You asked IMF not to give it to Sri Lanka.

    Calistus Jayatilleke Thursday, 03 February 2011 08:49 AM

    So, that means the Plug is firmly in place inspite of some vociferous opponents to ties with IMF and World Bank in the government itself!

    Shanil Thursday, 03 February 2011 02:15 AM

    More debt for us youth to carry on our backs...wonderful.

    Its ironic how there's such strong anti-US and anti-colonialist sentiment...but there's no issue with getting finance from the IMF.

    iam Thursday, 03 February 2011 02:37 AM

    congats! Cabraal

    Freelanced Thursday, 03 February 2011 12:34 PM

    What would you say if this was rejected ? Sure, you will make a statement here that this Govt. is uncapable of raising funds through foreign assistance. Wouldn't you ?

    Nihal Amarasekera Thursday, 03 February 2011 04:16 AM

    Timely endorsement for the government with local elections round the corner; with food & energy prices being the sticking point which could prove crucial in deciding the vote.

    Cobra Thursday, 03 February 2011 01:13 PM

    The other half to their siblings!

    Cobra Thursday, 03 February 2011 01:15 PM

    Wimal, where are you? Suffering a sore throat??

    malkanthi Thursday, 03 February 2011 04:47 AM

    Exactly, we cannot look forward to be a prosperous nation 'cos "Debt is the worst poverty".

    JUNIOR CITIZEN Thursday, 03 February 2011 02:13 PM

    mal -kanthi, even US is depending on IMF and WB. --YOU MUST LEARN A LITTLE BEFORE MAKING COMMENTS

    citizen1 Thursday, 03 February 2011 02:30 PM

    beggars can't be choosers. just accept the dire economical situation and be atleast somewhat grateful that some one is helping.


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