The International Monetary Fund approved a USD 427 Million loan to Srilanka shore up the government reserves and ravaged by a massive trade deficits.
Still Srilanka faces imbalances in exchange rants and the long running trade deficits, the IMF loan will help to improve the foreign reserve and take some development projects which will improve benefits in near futures.
Specially these loans can facilitates to
- Imbalance trade deficits
- Settle the Foreign currency reserves
- Develop Agricultural industry, which will help Srilanka for long term in domestic and exports
- Development of tourism industry
- Development basic infrastructure
- Development of renewable energies
Hope the government of Srilanka will utilize the funds better ways and lets srilanka to be Wonder of Asia.