BREAKING: IMF announces bailout package for Sri Lanka

Sri Lanka Crisis: The International Monetary Fund (IMF) has announced a $2.9 billion bailout package for crisis-hit Sri Lanka.

IMF officials carried out extensive discussions with their counterparts in the Sri Lanka government before announcing the agreement on Thursday.

“IMF staff and Sri Lankan government officials have reached a staff-level agreement to support the country’s economic policies with a 48-month arrangement under the Extended Fund Facility (EFF) of about $2.9 billion,” the IMF tweeted.

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