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IMF approve the 4th tranche

Sep 25, 2010 4:58:38 AM - itnnews.lk

The IMF gives the nod for the release of the 4th instalment of the loan extended to Sri Lanka in the face of the steady economic conditions created by the rapid development .

The members of the International Monetary Fund that met yesterday held detailed discussions on the current economic progress in Sri Lanka. Acting President of IMF Murilo Portugal said in a release that the 4th installment will be issued due to the satisfactory economic conditions in Sri Lanka.

The International Monetary Fund has agreed to release around 212.5 million dollars to Sri Lanka on Monday. The United Kingdom, Norway, Argentina and Germany have voted in favour of releasing the instalment while France was an absentee.

The other members of the IMF have voted in favour of Sri Lanka while appreciating the country. China has highly commended the programmes launched in Sri Lanka.