IMF hiding Sri Lanka's Letter of intent
Despite opposition from US, UK and France, IMF approved the loan of 2.5 billion dollars to Sri Lanka.It is not clear how IMF will ensure the money will not be spent again on military and ethnic cleansing.
The Letter of intent writtern by Rajapakse government to IMF is withheld for some reason.
UNITED NATIONS, July 24 -- As the International Monetary Fund's executive board approved a $2.5 billion loan to Sri Lanka, the IMF refused to release a copy of the Rajapakse government's letter of intent for the loan. As far back as a March press briefing in Washington, Inner City Press asked the IMF what safeguards, if any, would ensure that the IMF funds not boost the Rajapakse government's shelling and now detention of civilians in northern Sri Lanka, and alleged ethnic cleansing there.
At its press briefing days before the IMF Managing Director announced his staff's recommendation that the loan be approved, IMF spokesperson Caroline Atkinson said that the international community's views would be taken into account. But her colleague William Murray on Friday rejected Inner City Press' reject for a copy of the letter of intent, first saying that Sri Lanka would be the one to release it, then replying that the IMF's "transparency policy" leaves release entirely in the hands of the applicant, Sri Lanka. Mr. Murray wrote:
"Will check on the Letter of Intent. They're released by the member country, and typically after Executive Board review of the economic program. Sri Lanka's board meeting is today."
And then, after Inner City Press formally re-request a copy of the Letter, Murray wrote:
"The publication of the Letters is governed by the Executive Board's transparency policy. That policy empowers the member country to decide whether to release the document or not."
But the policy states that the country's consent to publication by the IMF is "presumed." So why is the Sri Lankan letter not made public by the IMF?