magerata

IMF Releases the Fifth Tranche of US Dollars 212.5 million Under the SBA Facility

In CENTRAL BANK OF SRI LANKA, development, Economy, magerata on September 26, 2010 at 11:26 am

Communications Department of Central Bank of Sri Lanka has released a report from Economic Research Department regarding the IMF fifth installment,  US Dollars 212.5 million , Under the Sri Lanka Stand-by Arrangement Facility. Following is the exact copy of the text that was issued by SBSL as a M$ doc. I have converted it to a PDF , “IMF Releases the Fifth Installment Under the SBA Facility“.
IMF Releases the Fifth Tranche of US Dollars 212.5 million Under the SBA Facility
The fourth review of the Sri Lanka Stand-by Arrangement (SBA) has been successfully completed by the International Monetary Fund (IMF) and the fifth tranche to the value of  SDR 137.8 million (approximately US dollars 212.5 million) has been disbursed by the IMF on 24 September 2010.
With this disbursement, a total of US dollars 1,275 million has been received thus far by Sri Lanka on account of the SBA facility that was approved in July 2009. These disbursements as well as other inflows on account of increased international trade flows, increase in workers’ remittances, inflows to the government to finance various infrastructure development projects and inflows to the private sector have helped raise the country’s foreign reserves to a very comfortable level. Consequently, the gross official reserves (without ACU receipts) now stand at its highest ever level of US dollars 6.1 billion, which is equivalent to 5.8 months of imports.
The Letter of Intent (LOI) and the Technical Memorandum of Understanding (TMU) of SBA are now available in the web site of the Central Bank of Sri Lanka (www.cbsl.gov.lk).

IMF Releases the Fifth Tranche of US Dollars 212.5 million Under the SBA FacilityThe fourth review of the Sri Lanka Stand-by Arrangement (SBA) has been successfully completed by the International Monetary Fund (IMF) and the fifth tranche to the value of  SDR 137.8 million (approximately US dollars 212.5 million) has been disbursed by the IMF on 24 September 2010. With this disbursement, a total of US dollars 1,275 million has been received thus far by Sri Lanka on account of the SBA facility that was approved in July 2009. These disbursements as well as other inflows on account of increased international trade flows, increase in workers’ remittances, inflows to the government to finance various infrastructure development projects and inflows to the private sector have helped raise the country’s foreign reserves to a very comfortable level. Consequently, the gross official reserves (without ACU receipts) now stand at its highest ever level of US dollars 6.1 billion, which is equivalent to 5.8 months of imports.  The Letter of Intent (LOI) and the Technical Memorandum of Understanding (TMU) of SBA are now available in the web site of the Central Bank of Sri Lanka (www.cbsl.gov.lk).

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