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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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Latest topics

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IMF approves US$ 251.4 mn to Lanka EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
IMF approves US$ 251.4 mn to Lanka EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
IMF approves US$ 251.4 mn to Lanka EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
IMF approves US$ 251.4 mn to Lanka EmptySun Apr 02, 2023 7:28 am by කිත්සිරි ද සිල්වා

» SEYB.N0000 (Seylan Bank PLC)
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» The Korean Way !
IMF approves US$ 251.4 mn to Lanka EmptyWed Mar 29, 2023 7:09 am by කිත්සිරි ද සිල්වා

» In the Meantime Within Our Shores!
IMF approves US$ 251.4 mn to Lanka EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

» What is Known as Dementia?
IMF approves US$ 251.4 mn to Lanka EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

» SRI LANKA TELECOM PLC (SLTL.N0000)
IMF approves US$ 251.4 mn to Lanka EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
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» Equinox ( වසන්ත විෂුවය ) !
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» COMB.N0000 (Commercial Bank of Ceylon PLC)
IMF approves US$ 251.4 mn to Lanka EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

» REXP.N0000 (Richard Pieris Exports PLC)
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» RICH.N0000 (Richard Pieris and Company PLC)
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» Cboe Volatility Index
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» AHPL.N0000
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» TJL.N0000 (Tee Jey Lanka PLC.)
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» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
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» Bakery Products ?
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» NTB.N0000 (Nations Trust Bank PLC)
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» Re-activating
IMF approves US$ 251.4 mn to Lanka EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

» අපි තමයි හොඳටම කරේ !
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» SAMP.N0000 (Sampath Bank PLC)
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» APLA.N0000 (ACL Plastics PLC)
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IMF approves US$ 251.4 mn to Lanka EmptyWed Nov 16, 2022 9:28 pm by කිත්සිරි ද සිල්වා

» Banks, Finance & Insurance Sector Chart
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» VPEL.N0000 (Vallibel Power Erathna PLC)
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» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
IMF approves US$ 251.4 mn to Lanka EmptyMon Nov 07, 2022 6:36 pm by කිත්සිරි ද සිල්වා

» WATA - Watawala
IMF approves US$ 251.4 mn to Lanka EmptySat Nov 05, 2022 8:44 am by කිත්සිරි ද සිල්වා

» KFP.N0000(Keels Food Products PLC)
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» Capital Trust Broker in difficulty?
IMF approves US$ 251.4 mn to Lanka EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
IMF approves US$ 251.4 mn to Lanka EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
IMF approves US$ 251.4 mn to Lanka EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
IMF approves US$ 251.4 mn to Lanka EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

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    IMF approves US$ 251.4 mn to Lanka

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    IMF approves US$ 251.4 mn to Lanka Empty IMF approves US$ 251.4 mn to Lanka

    Post by Backstage Fri Dec 08, 2017 10:19 am

    IMF approves US$ 251.4 mn to Lanka
    2017-12-08

    The IMF Executive Board completed the third review of Sri Lanka’s Extended Fund Facility arrangement on Wednesday (6), enabling the disbursement of US$ 251.4 million to the country.

    In a statement yesterday, the IMF said the Executive Board completed the third review of Sri Lanka’s economic performance under the programme supported by a three-year extended arrangement under the Extended Fund Facility (EFF) arrangement. “Completion of the review enables the disbursement of the equivalent of approximately US$ 251.4 million, bringing the total disbursements under the arrangement to the equivalent of approx. US$ 759.9 million,” it said.

    Sri Lanka’s three-year extended arrangement was approved on June 3, 2016, in the amount of about US$1.45 billion or 185 per cent of quota in the IMF at the time of approval of the arrangement.

    The statement said Sri Lanka government’s reform programme, supported by the IMF, aims to reduce the fiscal deficit, rebuild foreign exchange reserves and introduce a simpler, more equitable tax system to restore macroeconomic stability and promote inclusive growth.

    Following the IMF Executive Board’s discussion of the review, Mr. Mitsuhiro Furusawa, Acting Chair and Deputy Managing Director said Sri Lanka’s performance under the Fund-supported programme has remained broadly on track since the second review.

    “Macroeconomic and financial conditions have been stable, despite a series of weather-related supply shocks. The authorities remain committed to the economic reforms under the programme and have undertaken measures to improve government revenue and accumulate international reserves. Going forward, it is important to build on the progress made and accelerate reforms to further reduce fiscal and external vulnerabilities,” he said.

    “Fiscal performance has been satisfactory and all targets until September were met. The new Inland Revenue (IR) Act will make the tax system more efficient and equitable, and generate resources for social and development programs. Nevertheless, Sri Lanka’s high debt burden, large gross financing needs, and weak financial performance of state-owned enterprises increases the importance of further fiscal consolidation. Timely progress in structural reforms, including tax administration and energy pricing, will support fiscal consolidation,” he said.

    He also said the inflation and credit growth remain on the high side and maintaining a tightening bias for monetary policy is recommended until clear signs emerge that inflation pressures and credit expansion have subsided.

    “Macroprudential tools should also be used to help rein in credit growth and head off systemic risks. While financial soundness indicators remain stable, financial sector supervision and the AML/CFT regime should be further strengthened,” he said.

    Mr. Furusawa said along with efforts to deepen the foreign exchange market, it is important to further accumulate reserves and enhance exchange rate flexibility to reduce Sri Lanka’s external vulnerability. “Structural reforms are also needed to enhance competitiveness and promote inclusive growth, including measures to improve trade and investment regimes,” he said.
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    IMF approves US$ 251.4 mn to Lanka Empty Re: IMF approves US$ 251.4 mn to Lanka

    Post by Ethical Trader Fri Dec 08, 2017 12:07 pm

    Thanks Back. Rupee was getting stronger for the last few days.
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    Post by Backstage Fri Dec 08, 2017 12:17 pm

    Lets see if the Hambanthota cheque gets realized next week.
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    IMF approves US$ 251.4 mn to Lanka Empty Re: IMF approves US$ 251.4 mn to Lanka

    Post by Ethical Trader Fri Dec 08, 2017 5:11 pm

    It will happen for sure.
    Backstage wrote:Lets see if the Hambanthota cheque gets realized next week.

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    IMF approves US$ 251.4 mn to Lanka Empty Re: IMF approves US$ 251.4 mn to Lanka

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      Current date/time is Sun Dec 15, 2024 1:50 am