IMF strikes staff-level deal with Sri Lanka on $700m in funding

The International Monetary Fund (IMF) reached a staff-level pact with Sri Lanka, which will unlock financing of about $700 million once approved, the lender said on Thursday, calling for reforms, including in fuel levies, to ensure stability and growth. The deal comes as the island nation recovers from its worst economic crisis in decades, which led to a foreign debt default in 2022 and a $2.9-billion IMF bailout programme. Sri Lanka’s economic reforms have supported the recovery, but it has ...

By none@none.com (Reuters)