Sri Lanka requests another 1 billion dollar loan from the IMF

Saturday, 05 January 2013 - 7:46


A top official stated yesterday that Sri Lanka intends to ask for another loan from the International Monetary Fund in the amount of 1 billion dollars after foreign investments in infrastructure failed to materialize.


Secretary of the Treasury Dr. P. B. Jayasundara stated that the government will discuss borrowing another billion dollars from the IMF this year after drawing down a previous $2.6 billion IMF bailout loan six months ago.


Dr. Jayasundera stated that delays in construction work had slowed the in-flow of foreign direct investment which stood at about a billion dollars in 2012, 50 percent down from the government's original target for 2012.