Bankrupt Sri Lanka will receive a conditional $2.9 billion bailout to repair its battered finances, the International Monetary Fund said Thursday, following a bruising economic crisis that saw the island nation's president chased from the country.
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Senior Mission Chief for Sri Lanka of the International Monetary Fund (IMF) Peter Breuer (R) speaks next to Mission Chief for Sri Lanka (IMF) Masahiro Nozaki (L) during a press conference in Colombo on September 1, 2022. - Bankrupt Sri Lanka will receive a conditional $2.9 billion bailout to repair its battered finances, the International Monetary Fund said on September 1, following a bruising economic crisis that saw the island nation's president chased from the country. -- Photo: Ishara S. Kodikara / AFP
2022-09-01 13:10:49
Bankrupt Sri Lanka will receive a conditional $2.9 billion bailout to repair its battered finances, the International Monetary Fund said Thursday, following a bruising economic crisis that saw the island nation's president chased from the country.
Months of acute food, fuel and medicine shortages, extended blackouts and runaway inflation have plagued the country after a foreign exchange crisis left importers unable to pay for vital goods.
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