IMF provides us $ 1 billion

For infrastructure development:

Jayasiri MUNASINGHA

The government will obtain a loan of one billion US Dollars from the International Monetary Fund (IMF) for development of expressways, ports and airports. It has been possible to obtain this loan as the country’s economic status has improved to a middle income one from a low income status, senior Central Bank official said.

The economic outlook for the country is positive and the authorities target an increase of per capita income to 4,000 US Dollars by the end of the next four years, Deputy Governor, Central Bank, Dharma Dheerasinghe said yesterday. The government has also appointed an advisory panel to advise the government on how to obtain and upgrade sovereign rating for Sri Lanka. The panel is represented by the Hong Kong and Shanghai Banking Corporation Ltd., Bank of America Merryl Lynch and the Royal Bank of Scotland, he also said.