Govt. on target

Meeting IMF milestones in September under SBA

THE Central Bank said yesterday that the Government had successfully achieved the key September 2010 programme targets, namely Net International Reserves (NIR), Reserve Money (RM) and Net Domestic Financing (NDF) under the IMF-SBA.

This outcome indicates the successful progress Sri Lanka has made since the approval of the SBA facility in July 2009. So far, under the programme, Sri Lanka has received five tranches, totalling US$ 1,275 million, out of the total facility of approximately US$ 2,600 million.

An IMF staff mission is expected in November 2010 to conduct the next review under the SBA programme and the sixth tranche is expected to be released on completion of same.