Agence France Presse

Washington, March 5:

The International Monetary Fund said on Friday it had approved emergency aid for Sri Lanka and the Maldives to help the two countries to cope with the effects of the massive December 26 tsunami. The IMF said its executive board approved $157.5 million for Sri Lanka and $6.3 million for the Maldives. IMF deputy managing director Takatoshi Kato said both countries suffered steep human and economic losses. In Sri Lanka, IMF officials noted, the cost of replacing the damaged infrastructure has been estimated at over $1.5 billion, or 7.5 per cent of gross domestic product.