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IMF approves USD 213 million loan for Sri Lanka

[Express Buzz, Saturday, 25 September 2010 08:05 No Comment]

The International Monetary Fund has agreed to release around USD 213 million to Sri Lanka designed to top up the island’s dwindling foreign reserves.

The IMF moves to repair battered finances had been "satisfactory" as it dished out the fifth installment of a loan that now totals just under USD 1.3 billion.

"Sri Lanka’s performance under the program has been satisfactory," the Washington-based fund said in a statement.

"Overall economic conditions are improving, and the economy is likely to show strong growth this year on the back of improved fundamentals and political stability."

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