Meeting between Sri Lanka and IMF postponed

A meeting between Sri Lanka and the International Monetary Fund (IMF) in Washington has been postponed, Minister of Economic Reform and Public Distribution Dr. Harsha de Silva said.He said that the meeting had been postponed owing to a snow storm in  in Washington. “All meetings at @IMFNews including #SriLanka with MD @Lagarde rescheduled as ‘snow storm’ forces them to close. Having lived in US Midwest previously I am surprised how such little snow can shut the Capital down. Repayment of USD 1 billion ISB MR borrowed due today,” he tweeted. Mangala is in Washington to resume negotiations with the IMF on the Extended Fund Facility.The IMF had in November decided to suspend funding for Sri Lanka as a result of the political crisis. (Colombo Gazette) A Sri Lankan delegation led by Finance Minister Mangala Samaraweera is in the US for talks with the IMF. read more

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Pensions plans gained 34 per cent in fourth quarter StatsCan says

OTTAWA – Statistics Canada says employer-sponsored pension funds were worth more than $1.1 trillion at the end of December, a 3.4 per cent increase from September and up 4.6 per cent for the full year.The gain compared with an increase of 14.2 per cent in 2010 and 10.5 per cent in 2009.The value of pension fund investments in bonds at the end of the fourth quarter increased 3.6 per cent from the third quarter to $424.8 billion while investments in stocks recovered from losses in the third quarter, increasing 2.9 per cent to $338.5 billion.Smaller amounts were invested in mortgages, real-estate and other types of assets.The report included trustee-governed employer pension plans and their pension funds.Five million Canadian workers are covered by trustee-governed employer pension plans. Another million workers are covered by employer pension plans that are managed by insurance companies under contract.In the fourth quarter, 70.2 per cent of pension fund investments managed by trustees were in domestic holdings and 29.8 per cent in foreign holdings, unchanged from the previous quarter.Revenue increased 34.4 per cent to $29.2 billion in the fourth quarter due to special payments made by employers to cover pension liabilities, increased investment income and profits from the sale of securities.Note to readers: This is a corrected story. A previous version gave inaccurate figures for the gains in 2011 and the number of pension plans included in the report. Pensions plans gained 3.4 per cent in fourth quarter, StatsCan says AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by The Canadian Press Posted Jun 12, 2012 9:29 am MDT read more

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