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Serving Sri Lanka

This web log is a news and views blog. The primary aim is to provide an avenue for the expression and collection of ideas on sustainable, fair, and just, grassroot level development. Some of the topics that the blog will specifically address are: poverty reduction, rural development, educational issues, social empowerment, post-Tsunami relief and reconstruction, livelihood development, environmental conservation and bio-diversity. 

Friday, April 15, 2005

Sri Lanka given USD 157.5 million

BBCsinhala.com "13/04/2005

International Monitory Fund (IMF) announced that an emergency assistance of US$157.5 million was approved for Sri Lanka in March for tsunami reconstruction work.

“The approved amount became available immediately,” IMF said.

In its twice-yearly assessment issued on Wednesday, IMF said Sri Lanka’s recovery however could take much longer than expected.

Sri Lanka lost nearly two thirds of its fishing fleet and the agriculture has also been damaged in some small areas, the assessment said.

IMF said the damage to Sri Lanka by the Indian Ocean Tsunami is estimated at 4.5% of the GDP.

According to early indications Sri Lankan economy was expected to record a 6% growth rate in 2005. But the IMF said it has now lowered to 5.25% due to tsunami. Full Story

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