Foreign reserves up - Finance and State Revenue Minister
Finance and State Revenue Minister Ranjith Siyambalapitiya told
Parliament yesterday the need to obtain the US$ 1.9 billion IMF loan is
dwindling because the country's foreign reserves have gone up.
The Minister said the country's foreign reserves are rising due to
efforts made by the Government to defeat terrorism.
The country has successfully passed the crucial period where it
urgently needed such financial assistance.
However, Minister Siyambalapitiya was optimistic that this IMF loan
would be approved for Sri Lanka so that it would facilitate to further
strengthen our foreign reserves.
The Minister was responding to a supplementary question raised by UNP
MP Ravi Karunanayake.