G. L. PEIRIS SAYS THE IMF LOAN SRI LANKA IS GETTING IS THE BIGGEST EVER IN ITS HISTORY
Posted on July 23rd, 2009

By Walter Jayawardhana

Professor G.L. Peiris, the Sri Lankan cabinet minister who actively campaigned in Washington DC to obtain the IMF loan said yesterday in Colombo the US $2.5 billion loan Sri Lanka is getting is the biggest ever loan the island nation has ever got in its history.

ƒÆ’-¡ƒ”š‚ ƒÆ’‚¢ƒ¢-¡‚¬ƒ…-We are getting the loan in eight instalments and the first instalment will start tomorrow and end with the instalment on March 15 2011,ƒÆ’‚¢ƒ¢-¡‚¬ƒ”š‚ Peiris said addressing a press conference in Colombo.

ƒÆ’-¡ƒ”š‚ He categorically said no condition of the loan agreement contravenes any policy contained in the Mahinda Chinthanaya, the mandate given by the people at the last Presidential election.

ƒÆ’-¡ƒ”š‚ He said to boost the economy and lower the interest rate of loans given to medium and small scale private enterprise, the IMF loan will be immensely helpful.

He also said the loan would also help to strengthen the Sri Lankan Rupee.

ƒÆ’-¡ƒ”š‚ Meanwhile the government announced that Sri Lanka has supplied 57,767 University graduates with jobs and the 16 percent unemployment rate in 1990 has been brought down 5.2 percent in 2008.

One Response to “G. L. PEIRIS SAYS THE IMF LOAN SRI LANKA IS GETTING IS THE BIGGEST EVER IN ITS HISTORY”

  1. nuwans Says:

    So he sounds like being a bigger begger is better. Sri Lanka is going after all the counties begging for loans and yes we may have got the biggest loan. That also means now the future generations of Sri Lanka are more in debt. These crooked politicians take these loans and engage in corruption and with bad policies just waste most of that money and the responsiblity of paying these loans fails not on them but people who come after them. So what is the big thrill about rolling money from one loan to another ?

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