Sri Lanka's request for a $2.9-billion bailout was approved by the IMF on Monday, the cash-strapped South Asian nation's President Ranil Wickremesinghe announced. "We are pleased that the IMF Executive Board approved our program, enabling Sri Lanka to access up to $7.0 billion in funding from the IMF and International financial institutions," he said. Earlier in the day, Wickremesinghe's office …
Cash-strapped Sri Lanka is seeking a 10-year moratorium on its foreign debt, President Ranil Wickremesinghe’s office said on March 20, 2023 on the eve of a desperately needed $2.9 billion IMF bailout. The IMF’s executive board was expected to sign off on Colombo’s bailout application later on Monday after a long delay in securing financial assurances from China, Sri Lanka’s …
Cash-strapped Pakistan and the IMF have failed to reach a staff-level agreement on a much-needed $1.1 billion bailout package aimed at preventing the country from going bankrupt. In a statement Porter said, the IMF team welcomes Pakistan Prime Minister Shehbaz Sharif's commitment to implementing policies needed to safeguard macroeconomic stability and thanks the authorities for the constructive discussions. Pakistan Finance …
