SL meets all IMF loan targets

1 July 2012 03:15 am - 13 - {{hitsCtrl.values.hits}}

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Sri Lanka has met all June-end targets set by the International Monetary Fund (IMF) for the last tranche of a $2.6 billion loan, Central Bank Governor Ajith Nivard Cabraal said.

“We have met all the targets. Net domestic financing, net internal reserves, and the reserve money targets have been met,” Cabraal told Reuters.

After concluding a two-week assessment, an IMF mission June 15 said Sri Lanka’s policy measures including policy rate hikes, flexible exchange rate, and credit restrictions have been yielding results.

If satisfied, the global lender will disburse the last tranche of the $2.6 billion loan - around $420 million - by mid July. (Reuters)

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Comments - 13

Sha Sunday, 01 July 2012 10:14 AM

Wow! what an achievement of this gov?

Thaha Muzammil Monday, 02 July 2012 06:48 AM

Why not rephrase the heading as "Sri Lanka meet all diktats of IMF"

idiot Monday, 02 July 2012 07:03 AM

Just for information:
1 US$ to LKR 1 July 1992: Rs 44.17; 1 July 2002: Rs 96.30; 1 July 2012: Rs 134.00. It speaks for itself!

Manik Sunday, 01 July 2012 01:54 PM

Cabraal you are an expert at taking loans and then paying back
loans by taking some more loans. All in the name of development at the expense of poor Sri Lankans.

Ami Sunday, 01 July 2012 02:21 PM

Congrats Cabral , PB and MR ! U have done your part for this Land !

Bushel Monday, 02 July 2012 02:19 AM

A mudalali could have done better management of finance in this country

Rahu Sunday, 01 July 2012 03:54 AM

Pls explain to citizen what is the interest to be paid by citizens. Do u knew the mistake what u did for rupees

# Marzook Sunday, 01 July 2012 04:11 AM

ohh we knw that very well!

Sam Sunday, 01 July 2012 04:53 AM

You borrow, will pay!

weha Sunday, 01 July 2012 05:23 AM

yes at the expense of the peoples happiness.

CITIZEN Monday, 02 July 2012 03:51 AM

Yes, of course, by getting more loans to settle previous loans! How wonderful!!!!

dell Tuesday, 03 July 2012 09:57 AM

What happened to the previous loans?

Mushtaq Sunday, 01 July 2012 08:17 AM

U party ! We cry !

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SL meets all IMF loan targets

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