IMF Approves Sri Lanka's $2.9 Billion Bailout

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IMF Approves Sri Lanka's $2.9 Billion Bailout

A vendor deals in rupee notes on March 21, 2023, in Colombo, Sri Lanka. The Executive Board of the International Monetary Fund (IMF) has approved the Extended Fund Facility for Sri Lanka. Sri Lanka's president has said that the International Monetary Fund (IMF) has approved its request for a $2.9 billion bailout, and the country's presidency said the program will enable it to access up to $7 billion in overall funding. The IMF's board confirmed it has signed off on the loan, which clears the way for the release of funds and kicks off a four-year program designed to shore up the country's economy. (Photo by Thilina Kaluthotage/NurPhoto)


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