IMF approves third review of Sri Lanka's $2.9bn bailout

Global lender says tax revenue and reform of state-owned enterprises remain key

20241123 IMF sri lanka

IMF Senior Mission Chief for Sri Lanka Peter Breuer, center, attends a news conference in Colombo on Nov. 23. © Reuters

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

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.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.