IMF Approves Second Review of Sri Lanka's $2.9 Billion Bailout Program Under Extended Fund Facility

Jun 13, 2024, 01:25 AM

The International Monetary Fund (IMF) has approved the second review of Sri Lanka's $2.9 billion bailout program under its Extended Fund Facility. This approval is seen as a testament to the Sri Lankan government's dedication to driving forward economic reforms, according to Foreign Minister Ali Sabry. The IMF's decision follows a period during which India played a key role in supporting Sri Lanka through its economic crisis, providing a $4 billion bailout. Sri Lanka's High Commissioner Kshenuka Senewiratne recently met with Indian Finance Minister Nirmala Sitharaman, highlighting the ongoing cooperation between the two nations.