Sri Lanka has received the first tranche of an IMF bailout programme, President Ranil Wickremesinghe told Parliament on March 22. State finance minister Shehan Semasinghe said in an interview that Sri Lanka is ready to engage in restructuring talks with bilateral and private creditors to recover debt sustainability as "soon as possible." This was the 17th IMF bailout for Sri …
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 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 …
