• From The BBC:

    The International Monetary Fund has approved a $2.6bn (£1.6bn) loan to help Sri Lanka weather the global economic crisis and rebuild war-torn regions.The first $322m tranche of the 20-month loan is available immediately, with the rest subject to quarterly reviews. Britain and the US abstained from the vote, citing humanitarian concerns during the government’s recent fighting against Tamil Tiger rebels. Colombo says the money will be used to start the country’s “healing process”. Sri Lanka’s Enterprise Minister, Anura Priyadarshana Yapa, said the money would pay for post-war reconstruction work in the north and east of the island – areas previously controlled by the rebels. “We have completely destroyed one of the worst terrorist outfits in the world and it is time to start the reconciling and healing process in our country,” Mr Yapa told Reuters news agency on Friday. Humanitarian concernsThe loan comes two months after the government crushed the Tamil Tiger rebels, ending Sri La…

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    Posted by Jon @ 6:33 am

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