IMF approves Sri Lanka's $2.9bn bailout

Summary by ABC Australia

The International Monetary Fund has approved Sri Lanka’s request for a $2.9bn bailout, raising hopes for an easing of its economic crisis.

Published 3 months ago · Colombo, Sri Lanka

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Times of India

Sri Lanka: IMF approves $2.9 billion bailout for Sri Lanka

The International Monetary Fund's executive board has approved a $2.9 billion bailout for Sri Lanka, President Ranil Wickremesinghe's office said on Monday. "The IMF Executive Board approved Sri Lanka’s program under the Extended Fund Facility (EFF) that will enable Sri Lanka to access up to $7 billion in funding," the president's office said.

3 months ago·Mumbai, India

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BBC News

Sri Lanka: $2.9bn IMF bailout for struggling economy

The deal is a lifeline for the country which is facing its worst economic crisis in over 70 years.

3 months ago·United Kingdom

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News18 India

IMF Approves Sri Lanka's $2.9bn Bailout; President Wickremesinghe Expresses Gratitude

The IMF's board also confirmed it has approved the loan, which clears the way for the release of funds and kicks off a four-year programme designed to shore up the South Asian nation's economy

3 months ago·India

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The Guardian

IMF approves Sri Lanka's $2.9bn bailout

President vows to get economy back on track through ‘prudent fiscal management and ambitious reform agenda’

3 months ago·London, United Kingdom

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Reuters

Sri Lanka's economic crisis: From protests to IMF bailout

The International Monetary Fund (IMF) has approved a nearly $3 billion bailout for Sri Lanka, which could help the country unlock up to $7 billion more from other lenders such as the World Bank and the Asian Development Bank.

3 months ago·United Kingdom

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The Hindu

IMF approves Sri Lanka's bailout: Ranil Wickremesinghe

Sri Lankan President Ranil Wickremesinghe said the government has already doubled taxes, increased energy tariffs threefold and slashed subsidies in an effort to meet the preconditions of the IMF bailout.

3 months ago·India

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