Give as I Command

Lanka's top bureaucrat has told aid donors to coordinate their lending despite Sri Lanka not having a poverty reduction strategy that allows the state to spend donor money where it wants.







Lanka's top bureaucrat has told aid donors to coordinate their lending despite Sri Lanka not having a poverty reduction strategy that allows the state to spend donor money where it wants. Treasury Secretary says government is taking time to produce a poverty reduction strategy because the answers to Sri Lanka's poverty issues are complex.

A poverty reduction strategy that broadly outlines an economic plan can be used to get program loans that the government can spend on any budget item.

Program loans from both the IMF, for balance of payment support, and the World Bank are currently under suspension.

The IMF pledged US$ 560 million in balance of payment support in 2003 after Sri Lanka said it would do major reforms in revenue generating agencies and privatize the ailing state banks.

The country only got one US$ 80 million tranche of the loan before it was suspended due to delays in reforms.

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A similar US$ 200 million program loan from the World Bank, which could have been used for anyth