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Update on IMF loan

July 18, 2009

Liberal – Liberals call for conditions on any IMF loan to Sri Lanka

The Liberal Party insists that conditions need to be strictly applied to any potential loan to Sri Lanka from the International Monetary Fund, based on humanitarian concerns, the proper treatment of internally displaced persons and a restoration of peace and security to the country.

 “We must be responsible in our economic assistance to Sri Lanka,” said Liberal Foreign Affairs Critic Bob Rae. “The government of Sri Lanka cannot expect massive economic assistance without paying full attention to their humanitarian obligations.

 “The situation in Sri Lanka remains dire and requires international attention. Our efforts must be focused on helping those in need,” he said.

Tamilnet – US Congress places Rights barriers on Sri Lanka IMF loan

The language inserted in the Department of State Appropriations bill S.1434 soon to be passed in the United States Senate, has virtually blocked U.S. Treasury Secretary from authorizing the projected $1.9B IMF loan to Sri Lanka, unless Secretary of State Hilary Clinton certifies that Sri Lanka “is treating internally displaced persons in accordance with international standards, including by guaranteeing their freedom of movement, providing access to conflict-affected areas and populations by humanitarian organizations and journalists, and accounting for persons detained in the conflict,” and Sri Lanka is promoting “reconciliation and justice including devolution of power to provincial councils in the north and east as provided for in the Constitution of Sri Lanka.”

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