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5 posters

‘SL to receive first tranche of US$ 1.5 bn IMF loan next week’

Backstage

Backstage: Top contributor; Posts : 3803
Join date : 2014-02-24

Post n°1

‘SL to receive first tranche of US$ 1.5 bn IMF loan next week’

by Backstage Fri Jun 03, 2016 10:14 am

‘SL to receive first tranche of US$ 1.5 bn IMF loan next week’
June 2, 2016, 9:13 pm

By Hiran H.Senewiratne

The first tranche of the US$ 1.5 billion IMF loan facility to Sri Lanka is likely to be received by the country sometime next week, Central Bank of Sri Lanka Governor Arjuna Mahendran said.

"We are looking for a loan of as much as US$ 1.5 billion from the IMF as a seal of approval for the government's policies, in order to help draw further foreign inflows and to cover up our import bill, Mahendran told The Island Financial Review yesterday.

He said Sri Lanka would be informed about the day on which the first tranche of the loan would be released."Over the last 10 years the country's export revenue dropped drastically, which was less than 15 percent of the GDP. Until our exports revenue is increased the economy will go through hardships, the Governor said.

The government is seeking to sell as much as US$ 3 billion in bonds in international markets this year after refinancing concerns prompted Fitch Ratings to downgrade the nation and for Standard & Poor to cut its rating outlook to negative.

The rupee is trading near a record low following worsening foreign-exchange reserves and a balance of payments crunch forced the Central Bank to stop propping up the currency.

Ethical Trader

Ethical Trader: Top contributor; Posts : 5568
Join date : 2014-02-28

Post n°2

Re: ‘SL to receive first tranche of US$ 1.5 bn IMF loan next week’

by Ethical Trader Fri Jun 03, 2016 10:33 am

Thanks Back. ?Will this news be able to boost CSE.

slstock

slstock: Veteran; Posts : 6216
Join date : 2014-06-12

Post n°3

Re: ‘SL to receive first tranche of US$ 1.5 bn IMF loan next week’

by slstock Fri Jun 03, 2016 10:34 am

Thanks. This is good and was awaiting this to analyze my CSE update. Market has been going well as anticipated in the last 2 weeks ( some may not like it though) .

We are slowly getting to the "energy" boost.

roshana7549

roshana7549: Posts : 280
Join date : 2014-04-18

Post n°4

Re: ‘SL to receive first tranche of US$ 1.5 bn IMF loan next week’

by roshana7549 Fri Jun 03, 2016 11:01 am

slstock wrote:Thanks. This is good and was awaiting this to analyze my CSE update. Market has been going well as anticipated in the last 2 weeks ( some may not like it though) .

We are slowly getting to the "energy" boost.

Thanks for the post SLS, You are the energy boost of this forum.. Very Happy