business
breaking news IMF approves nearly $3 billion bailout for Sri Lanka
Sri Lankan President Ranil Wickremesinghe’s office said the move will allow the country to access up to $7 billion in overall funding.
The International Monetary Fund (IMF) said on Monday its board had approved a nearly $3 billion bailout package for Sri Lanka, potentially helping the country emerge from its worst financial crisis in more than seven decades. .
Sri Lankan President Ranil Wickremesinghe’s office said the move will allow the country to access up to $7 billion in overall funding.
The IMF program will help improve Sri Lanka’s position in international capital markets, the president’s office said.
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