United States Virginia change
Sri Lanka Breaking News
Sri Lanka parliament
vivalankaSri Lanka newsSri Lanka businessSri Lanka sportsSri Lanka technologySri Lanka travelSri Lanka videosSri Lanka eventssinhala newstamil newsSri Lanka business directory
vivalanka advertising
Stay Connected
Popular Searches
T20 World Cup
Sponsored Links
Sri Lanka Explorer

IMF Approves Sixth Tranche

Apr 5, 2011 1:23:40 PM - thesundayleader.lk

The International Monetary Fund (IMF) has on Monday reportedly completed the sixth review of Sri Lanka’s economic performance under a programme supported by a Stand-By Arrangement (SBA) and approved the disbursement of an amount equivalent to about US$ 218.3 million loan.
The IMF in a statement has said the completion of the review enables the immediate disbursement of an amount equivalent to about US$ 218.3 million, bringing total disbursements under the arrangement to an amount equivalent to about US$ 1.75 billion.
The Executive Board has also approved a waiver of applicability for the three end-March performance criterions on (i) the net international reserve target (ii) reserve money and (iii) net domestic financing of the central government.

A rephasing of the remaining disbursements was also approved by the Board. The US$ 2.62 billion SBA was approved on July 24, 2009.