Sri Lanka's IMF Bailout: A New Parliamentary Era

Sri Lanka is set to finalize a staff-level agreement for the third review of its IMF bailout on Friday. President Anura Kumara Dissanayake announced this during the first session of the newly elected parliament. His National People's Power coalition secured a historic win with 159 seats.

Sri Lanka is on track to conclude a staff-level agreement for the third review of its International Monetary Fund (IMF) bailout program this Friday, as reported by President Anura Kumara Dissanayake during the inaugural session of the newly appointed parliament.

The President's announcement comes in the wake of a sweeping electoral victory for his National People's Power (NPP) coalition, which captured a record 159 out of 225 parliamentary seats, marking a significant political shift in the country.

This development indicates a new era for Sri Lanka's economic policies and governance as the nation aligns with the conditions of the IMF bailout to stabilize its financial systems.

(With inputs from agencies.)