The Executive Board of the International Monetary Fund(IMF) yesterday approved the much awaited 2.6 Billion US Dollars Standby Agreement for Sri Lanka.Out of this Loan 322.2 Million US Dollars will be released immediatley and the rest to be issued within 20 Month Period.
IMF delayed granting of this loan to Sri Lanka due to the opposition of Some Foriegn Powers including USA,Canada,France and Britian citing Human Rights Record of the country.