The International Monetary Fund (IMF) approved the third review of Sri Lanka's $2.9 billion bailout on Saturday but warned that the South Asian economy remains vulnerable.

COLOMBO: Sri Lanka's new leftist government has agreed to press ahead with a controversial IMF bailout programme that involves tough austerity and economic reforms, the international lender announced on Saturday (Nov 23).

Sri Lanka’s new National People’s Power government on Saturday got the International Monetary Fund approval for a staff-level agreement to secure the fourth tranche of the nearly $3 billion bailout package.

Sri Lanka expects the IMF to announce a staff level agreement on its third review of the country's bailout programme on Friday, President Anura Kumara Dissanayake told the first sitting of the new parliament.

Sri Lanka’s new NPP Government on Saturday got the International Monetary Fund (IMF) approval for a staff-level agreement to secure the fourth tranche of the nearly USD 3 billion bailout facility.   “Once the review is approved by the IMF management and completed by the IMF executive board,

The International Monetary Fund's latest review of Sri Lanka's $2.9 billion bailout highlights both emerging recovery signs and continued economic vulnerabilities. With a focus on completing debt restructuring and responsible fiscal policy,

In a statement, the global lender said it would release about $333 million, bringing total funding to around $1.3 billion, to the crisis-hit nation. It said signs of an economic recovery were emerging.

The International Monetary Fund (IMF) approved the third review of Sri Lanka's $2.9 billion bailout on Saturday but warned that the economy remains vulnerable. In a statement, the global lender said it would release about $333 million,