Sri Lanka achieves September targets

Sri Lanka has successfully achieved the key September 2010 program targets, namely, Net International Reserves (NIR), Reserve Money (RM) and Net Domestic Financing (NDF) under the IMF-Stand By Agreement (SBA),Central Bank said.

This outcome indicates the successful progress Sri Lanka has made since the approval of the SBA facility in July 2009.

So far, under the program, Sri Lanka has received five tranches, totalling US dollars 1,275 million, out of the total facility of around US dollars 2,600 million. An IMF staff mission is expected in November 2010 to conduct the next review under the SBA program, and the sixth tranche is expected to be released on completion of same.