Sri Lanka, IMF Reach Deal on $2.9 Billion Rescue Package

Sri Lanka has reached an interim agreement with the International Monetary Fund for a financial bailout package worth about US$2.9 billion, a milestone on its way out of the worst economic crisis in decades.

The loan, to be disbursed over four years, is conditional on the Sri Lankan authorities taking steps aimed at putting the country on a more sustainable financial footing and on pledges from the country’s creditors to cooperate on the debt restructuring will.

https://www.wsj.com/articles/sri-lanka-imf-reach-deal-on-2-9-billion-rescue-package-11662021371 Sri Lanka, IMF Reach Deal on $2.9 Billion Rescue Package

Alley Einstein

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