Presidential Guarantee

Moves of a Nov. 19 budget re-surfaced, as President Chandrika Kumaratunga met with representatives from multilateral donor agencies on Wednesday, to assure her full support for ongoing economic reforms.
Representatives were assured that Parliament would re-open and the budget presented on time, to ensure donor commitments are met, Presidents Senior Advisor, Mano Tittawella told Lanka Business Online.rn

rnldblquote There is no need for markets to panic or investors to get jitters. The President is committed to ensure that the governments economic plan continues,
dblquote he said.rn

rnBulk of the US$ 4.5 bn aid pledged in June, as well as multilateral donor funding, hinges on budget proposals and peace talks re-starting in January.rn

rnA second US$ 80 mn tranche under the International Monetary Funds US$ 567 mn concessionary lending facility is also due mid December.rn

rnAs a precursor, an IMF fact finding team was in town two-weeks ago. The government is expected to go before the IMF board on D