IMF clarifies numbers

Wednesday, 25 July 2012 01:06 - - {{hitsCtrl.values.hits}}

With reference to yesterday’s article titled ‘IMF, CB numbers don’t tally,’ IMF Resident Representative Koshy Mathai said IMF disburses in Special Drawing Rights (SDRs) and the US Dollar amount reported simply converts the cumulative SDR amount at the latest exchange rate.

However, the CBSL has reported the result of their converting each SDR disbursements into dollars at the prevailing rate on the disbursement date.

“We are both reporting the same total SDR amount (with a rounding error) since we used four digits and the CBSL used three digits,” Mathai added.