News > IMF provisionally agrees on USD 2.9 billion bailout for crisis-hit Sri Lanka

IMF provisionally agrees on USD 2.9 billion bailout for crisis-hit Sri Lanka

The Week | 01/09/2022 09:09 PM | Click to read full article

The IMF on Thursday announced that it will provide Sri Lanka a loan of about USD 2.9 billion over four years under a preliminary agreement to help the bankrupt island nation tide over its worst economic crisis and protect the livelihoods of the people.

Sri Lanka is going through its worst economic crisis since its independence in 1948 which was triggered by a severe paucity of foreign exchange reserves.

-