The International Monetary Fund has approved a much-awaited bailout package worth $3 billion for Sri Lanka, officials of the international body confirmed on Tuesday, announcing aid that was termed …
IMF announces Sri Lanka programme aimed at island’s economic recovery
The objectives of the EFF-supported programme are to restore macroeconomic stability and debt sustainability, safeguarding financial stability, and stepping up structural reforms to unlock Sri Lanka’s …
Sri Lanka, Its Economy Reeling, Is Approved for $3 Billion Rescue Loan
Even before the announcement was made, late on Monday by a finance minister in the capital, Colombo, markets had breathed a sigh of relief. Sri Lanka’s stock market has jumped 6 percent this month, …
IMF Approves Sri Lanka’s $2.9bn Bailout
Sri Lanka’s president said Monday that the International Monetary Fund has approved its request for a $2.9 billion bailout, raising hopes for an easing of the island nation’s dire economic crisis.
Sri Lanka, Its Economy Reeling, Is Approved for $3 Billion Rescue Loan
Even before the announcement was made, late on Monday by a finance minister in the capital, Colombo, markets had breathed a sigh of relief. Sri Lanka’s stock market has jumped 6 percent this month, …
Best Workplaces in Manufacturing and Production Industry of Sri Lanka for 2023
Manufacturing and Production (M&P) for the domestic and international market has long played a pivotal role in Sri Lanka’s economic output. The World Bank estimates the manufacturing sector’s …
Ahead Of IMF Bailout, Sri Lanka Seeks “10-Year” Time To Repay Debt
Cash-strapped Sri Lanka is seeking a 10-year moratorium on its foreign debt, President Ranil Wickremesinghe’s office said Monday on the eve of a desperately needed $2.9 billion IMF bailout.
Sri Lanka seeks 10-year debt moratorium ahead of IMF bailout
Sri Lanka President Ranil Wickremesinghe did not give details of his plans to restructure Sri Lanka’s $46 billion external debt.
Economic devastation worsens as Sri Lankan government imposes IMF austerity
Wickremesinghe says the country will have to repay an average $7 billion in foreign loan debts annually until 2029, making clear that the regime functions as a direct agent of global finance capital.
IMF to approve $2.9 bn bailout package for Sri Lanka: Central bank governor
The IMF package will include budgetary support to Sri Lanka’s government, which is a new element in IMF lending, he added …