IMF Approves Third Review of Sri Lanka's Bailout Amid Economic Vulnerability
The International Monetary Fund has approved the third review of Sri Lanka's $2.9 billion bailout, providing an additional $333 million in funding. Despite signs of economic recovery, the IMF warns that the country's economy remains vulnerable.
- Country:
- Sri Lanka
The International Monetary Fund (IMF) has given the green light to the third review of Sri Lanka's $2.9 billion bailout package, though it cautions that the nation's economic stability is still precarious.
This latest approval, announced on Saturday, will release approximately $333 million, increasing the total disbursement to around $1.3 billion for the struggling South Asian country.
According to a statement from the IMF, while there are emerging signs of economic recovery, significant challenges remain ahead for Sri Lanka's financial health.
(With inputs from agencies.)
- READ MORE ON:
- IMF
- Sri Lanka
- economic recovery
- bailout
- funding
- economy
- vulnerability
- South Asia
- crisis
- disbursement
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