Report in The Guardian, Mar 21, 2023The International Monetary Fund has approved Sri Lanka’s request for a $2.9bn bailout, raising hopes for an easing of its economic crisis. The IMF’s board confirmed it had signed off on the loan, clearing the way for the release of funds and kicking off a four-year programme designed to shore up the economy. The IMF managing director, Kristalina Georgieva, warned that Colombo must continue pursuing tax reform and greater…
Posts tagged as “bailout”
By Swati Bhat and Uditha Jayasinghe in Reuters, Mar 22, 2023MUMBAI, March 21 (Reuters) – Sri Lanka has a difficult road ahead irrespective of how much funding it receives from multilateral and global financial agencies, a senior economist at Moody’s Analytics told Reuters on Tuesday. Moody’s Analytics is independent of Moody’s Investors Service, the rating agency. The International Monetary Fund (IMF) approved a nearly $3 billion bailout for Sri Lanka on Monday and the country’s…