Financial Times

IMF team in Colombo to discuss $1.9 bln loan

 

The $1.9 billion Stand-By Arrangement (SBA) facility sought by the Sri Lanka government from the IMF has now reached an advanced level of finalization with an IMF team currently in Colombo, the Central Bank said on Thursday, reacting – in a statement quickly – after news reports emerged about the US government urging the IMF to delay the loan. “In this regard, the Sri Lankan delegation to the IMF Spring Meetings held several discussions with senior staff of the IMF. Further, a Safeguards Assessment mission from the IMF is now in Colombo having discussions with senior officials of the government and the Central Bank as a part of the process,” it said in a statement.

Reports from Washington quoted US officials, who spoke on condition they not be named, as saying the Barrack Obama administration last week conveyed its view to other members of the IMF board, which has yet to formally consider the loan.

U.S. officials say the government has done too little to protect the civilians in the war zone.


 
Top to the page  |  E-mail  |  views[1]
 
Other Financial Times Articles
> Invisible hand behind Tax Dept. changes
> Stocks seen rising, companies expect boom when war ends
> At least 50,000 workers lose jobs since January
> Finance companies- confidence yet to be restored
> IMF team in Colombo to discuss $1.9 bln loan
> GK depositors reveal hidden agenda of Ceylinco Consolidated
> Braille bills
> Tackling the recession - COMMENT
> Motor Insurance – What you need to know - IBSL
> Bakery entrepreneur's environmental initiative cuts costs in the business
> Global crisis could be blessing to corporate sector
> Keells Supermarkets offer purchases thro' Internet
> Bidding deadline for South Container Terminal project extended
> Coca-Cola launches Minute Maid Mango
> Banks deny claims of restricted lending
> AMW scholarships and long service awards
> Hameedia's upgrades factories, launches new products
> 17th Annual NCE Export Awards for 2008
> Kotelawala transferred to Prison Hospital
> Ceylinco Finance PLC to be strategically repositioned
> Controversy plagues Chillies again
> Sri Lanka Tourism gears up for post-conflict
> Companies given notice to re-register
> Ceylinco Savings Bank name changed to MBSL Savings Bank
> MBSL reviving failed F&G, interest payments being made
> Business executives to the fore in relief work
> War not affecting GSP+ prospects
> More FR petitions by Ceylinco Depositors
> Bribery Commission finalizing probe in LMS deal
> Mandatory offer gain at Rs 185 million for Eagle
> Tea pluckers earn only around Rs 3,500 per month
> Synergy teams up with Hemas for ‘Insight Out’
> Emirates SkyCargo supports relief effort in Sri Lanka
> IMF streamlines conditions for programmes
> Honda re-launches 'Wing Mark' in Colombo
> Symposium on global recession, options for employers

 

 
Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2008 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution