IMF team in town but no date yet for
Executive Board nod

A mission of the International Monetary Board (IMF) is in town for talks connected to Sri Lanka’s request for US$ 1.9 billion assistance though no date has been fixed as yet for a decision by its Executive Board.
Though the Central Bank Governor Nivard Cabraal has been quoted as saying that the dire need for IMF assistance, originally requested in March, had waned by now, the Government is still confident funding would come through. Funding is largely to boost the country’s reserves to better manage the impact of the global recession.
Several Western countries have been blamed for what some analysts perceive as “unusual” delay on the part of the IMF in finalizing the assistance to Sri Lanka. The West is allegedly exerting pressure to delay the IMF funding subject to Sri Lanka improving its human rights record as well as treatment of IDPs.
However, a Reuters report quoted Central Bank Chief Economist Nandalal Weerasinghe as saying that an IMF mission had arrived for discussion on post-war developments and reconstruction. Meanwhile, at the last press briefing by IMF’s Director External Relations Caroline Atkinson with regard to Sri Lanka’s assistance said: “…discussions are continuing, and the finalisation of the programme, as with any other programme, would of course depend on the Executive Board. We don’t have a date for an Executive Board meeting at present on Sri Lanka.”