Fine Tuning

A team from the IMF is expected soon to start final negotiations on a structural adjustment loan expected by March this year.
The International Monetary Fund team will arrive on January 20, to negotiate the final terms of a long-term loan. The IMF board could approve the loan in March if the terms are finalized during the visit of the high-powered team.rn

rnThe resident IMF representative Jeremy Carter said that negotiations on the loan could last for around ten days.rn

rnThe IMF would be closely looking at the governments reform agenda spelt out in the lquote Regaining Sri Lanka document and the poverty reduction strategy paper.rn

rnThe quantum of the loan however has yet to be discussed but IMF officials say it would run into hundreds of millions of dollars. rn

rnPoverty reduction growth facility loans granted by the IMF have a repayment period of forty years and low rates of interest.rn

rnNegotiations on the PRGF loan come on the back of a US$ 256 mn stand by agreement approved in 2001.rn<