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IMF Disburses US$ 216.6Mn Tranche

Feb 3, 2011 10:26:12 AM - thesundayleader.lk

The IMF has announced the releasing of US$ 216.6 million in financing for Sri Lanka, applauding the government for strengthening the economy and macro-economic management, media reports said.
It was the latest disbursement of an 18-month, US$ 2.6 billion facility to help the island nation rebuild after the end of a decades-long conflict with Tamil rebels.

The AFP stated that the total disbursed, after Wednesday’s announcement, is US$ 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 has said in a statement.

“Growth is strengthening; inflation remains in check, despite some pressure in food and energy prices; and imports have recovered.”