IMF approves loan installment of USD 164 Mn to SL

COLOMBO (News 1st):- The Executive Council of the International Monetary Fund has decided to release a loan installment of USD 164 million. The decision has been taken following the sixth review on the country's economic activities. Under this loan program, the loan value that Sri Lanka has obtained until now is USD 1.31 million. Issuing a notice the Deputy Managing Director of the IMF, Nishu Hiro Furusawan states that the Sri Lankan economy is reviving following the April 21st terror attack. Further, the IMF has also forecasted that the economic growth rate of the country which stands at 2.7% for the year 2019 would increase up to 3.5% by 2020.