IMF has no view on remaining $ 800 m tranche

Saturday, 4 February 2012 00:00 - - {{hitsCtrl.values.hits}}

The International Monetary Fund (IMF) yesterday refused to comment on whether or not the Government would accept the remaining US$ 800 million of the Stand-By Arrangement.

Review Mission head Dr. Aitken responding to media’s questions stressed that the IMF would make the money available and it was Government’s decision whether or not to accept the last tranche.

“We will continue to complete the Stand-By Arrangement even if the Government decides not to take the remaining funds,” he said, adding that it was not IMF’s decision to make and that it had not engaged with the Government on any concrete discussions on the matter.

“We stand ready to support the Government,” he emphasised.

When questioned as to whether Sri Lanka would have a positive response if it opted for another bond later this year, Dr. Aitken responded that given the global situation it would be more difficult for the country to see a strong appetite from the euro zone.