IMF and Sri Lanka Reach $345M Funding Pact
The IMF reached a staff level agreement with Sri Lanka to unlock about $345 million in financing. The deal requires executive board approval and depends on the upcoming 2027 budget.
The International Monetary Fund reached a staff-level agreement with Sri Lanka on a $345 million financing package during Sunday morning reviews. The deal unlocks crucial funds under an ongoing $2.9 billion rescue programme. The island nation is working to stabilize its economy following the severe dollar shortage and debt crisis of 2022.
