September 21, 2011 / 2:02 PM / 8 years ago

IMF: No timing yet for Sri Lanka review prior to next loan disbursal

COLOMBO, Sept 21 (Reuters) - The International Monetary Fund on Wednesday said there has been no timetable set for a review of Sri Lanka’s progress under a $2.6 billion loan, the precursor to disbursement of the programme’s eighth tranche.

“As always, discussions with the government are continuing, but there is not yet any explicit timetable for board consideration of the seventh review,” IMF Country Representative Koshy Mathai told Reuters in an e-mailed statement.

The global lender’s comments come as the island nation’s central bank defended its intervention in the foreign exchange market after the IMF urged more flexibility in the rupee exchange rate. (Reporting by Shihar Aneez; Editing by Bryson Hull)

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