Sri Lanka to get first tranche of IMF bailout funds

Sri Lanka will get the first $330 million tranche of an International Monetary Fund (IMF) bailout in the next two days, the global lender said on today (21), putting the onus on the cash-strapped country to rein in its debt to sustainable levels.

Economic mismanagement coupled with the impact of the COVID-19 pandemic left Sri Lanka severely short of dollars for essential imports at the beginning of last year, tipping the island nation into its worst financial crisis in seven decades.

The IMF’s executive board yesterday (20) approved a nearly $3 billion bailout with the endorsement expected to catalyse additional external support to the tune of $3.75 billion from the likes of the World Bank, the Asian Development Bank and other lenders.

ceylontoday

மேலும்...வேட்டை வாரமலர்

மேலும்...தமிழ்நாடு செய்திகள் 
மேலும்...இலங்கை  செய்திகள் 
மேலும்...இந்தியா  செய்திகள் 
மேலும்...உலக  செய்திகள் 
மேலும்..விளையாட்டு செய்திகள் 

VETTAI ENGISH