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Sri Lanka will get the second tranche of a much-need bailout package from the IMF

  • The International Monetary Fund approved the release of the second tranche of a $2.9 billion bailout package to help Sri Lanka recover from its worst economic crisis.
  • Sri Lanka has reached debt restructuring agreements with China's EXIM Bank and an Official Creditor Committee, covering a total of $9.1 billion in outstanding debt.
  • Sri Lanka's economy is projected to continue negative growth in 2023 but could grow by 1.8% in 2024, putting its debt on a path towards sustainability.
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people.com.cn broke the news in on Wednesday, December 13, 2023.
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