Lanka makes good progress under SBA- IMF
[February 04 2011]

<P>By Lalin Fernandopulle

<P>Sri Lanka's Foreign Direct Investment (FDI) this year will double last year's figure of US$ 375 million but it is still low compared to Vietnam which is much higher, said  IMF Resident Representative Sri Lanka, Dr. Koshy Mathai.

<P>He said the FDI this year will be around US$ 725 million which is a substantial growth compared to last year and added that there is immense room for growth.

<P>The IMF on completion of the fifth review approved the disbursement of US$216.6 million bringing the total disbursements under the arrangement to US$ 1.516 billion.

<P>The IMF will disburse US$ 217 million within the next couple of days.The remaining US$ 1.1 billion of the total US$ 2.6 billion loan facility will be disbursed over the year and at the beginning of 2012.