Minister of Finance and State Revenue Ranjith Siyambalapitiya said that the acting President of the IMF has clearly stated that Sri Lanka has successfully  exceeded the expected targets.

It is the UNP which obtained credit facilities from the IMF in the nearest past in 2003 agreed to a large number of conditions although only the first installment of 70 million dollars could be obtained , he recalled.

He said the country is going strong under the “Mahinda Chinthana” and the second installment granted by the IMF bears witness to the proper financial management in the country. The first installment of the entire amount of nearly 2.7 billion US dollars approved by the IMF was issued to Sri Lanka on 24th of July. The first installment that consisted of 332 million us dollars substantially increased the foreign assets of the country. The second installment has also been approved.

This amount would be credited to the central bank on next Tuesday. With this the foreign assets would increase up to 5.1 billion US dollars. This would assist in continuing the flexible foreign exchange policy and encourage foreign investments.

Governor of the Central Bank Ajith Nivard Cabral said that the reserves of the central bank has exceeded five billion US dollars and this is a very important juncture. The transactions with foreign countries are remaining at a high level. When compared with the imports, it is equal for six months.