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Tuesday, 17 April 2012 - 12:53
Sri Lanka IMF disbursement credit positive - Moody's
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Moody's Investors Service has said that the resumption of a loan program with the International Monetary Fund is positive for Sri Lanka's 'B1' credit rating, as it will help boost investor confidence.

The rating agency said corrective actions, including a flexible exchange rate, rate hikes, credit ceilings and energy price increase are expected to stabilize reserves.

With a 427 million US dollar tranche from the IMF reserves have reached 6.1 billion dollars on April 04.

The rating agency said Sri Lanka will have to be ready to take further measures to get the last IMF tranche.

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