Sri Lanka: Use of Fund Resources—Request for Emergency Assistance

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 084

Publication date: March 2005

ISBN: 9781451823547

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , government , reconstruction effort , debt payment , G-7 , tourism sector , impact of the tsunami , Sri Lankan authorities , Emergency assistance , Monetary base , Imports , International reserves , Central Asia , Global

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Summary

This paper evaluates Sri Lanka’s Request for Emergency Assistance. The Sri Lankan authorities have requested a purchase in an amount of SDR 103.35 million under the IMF’s policy for emergency assistance related to natural disasters. In line with IMF policy for Poverty Reduction and Growth Facility (PRGF)-eligible countries, they have also requested the provision of subsidies to reduce the rate of charge to concessional terms. Reconstruction and rehabilitation will support growth momentum in 2005.