03 Feb '11, 1am

IMF releases US$216.6m for Sri Lanka

WASHINGTON: 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."

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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