The International Monetary Fund (IMF) on Monday said its executive board approved a nearly $3 billion bailout for Sri Lanka, and the country’s presidency said the program will enable it to access up to $7 billion in overall funding.
The decision will allow an immediate disbursement of about $333 million, the IMF said, and will spur financial support from other partners, potentially helping Sri Lanka emerge from its worst financial crisis in over seven decades.
