CB says all June-end IMF loan targets met

Monday, 2 July 2012 01:29 - - {{hitsCtrl.values.hits}}

Reuters: Sri Lanka has met all June-end targets set by the International Monetary Fund (IMF) for the last tranche of a $ 2.6 billion loan, Central Bank Governor Ajith Nivard Cabraal said on Friday.

“We have met all the targets. Net domestic financing, net internal reserves and reserve money targets have been met,”” Cabraal told Reuters.

After concluding a two-week assessment, an IMF mission on 15 June said Sri Lanka’s policy measures including policy rate hikes, flexible exchange rate and credit restrictions have been yielding results.

If satisfied, the global lender will disburse the last tranche of the $ 2.6 billion loan – around $ 420 million – by mid July.

Currency dealers in the last two weeks said the rupee currency, which hit a fresh record low on Thursday, has been under severe pressure as the Central Bank continuously bought dollars to meet the net internal reserves target.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.