COLOMBO -- Sri Lankan President Ranil Wickremesinghe on Wednesday told parliament that the country is "starting a new journey" after securing a nearly $3 billion bailout from the International Monetary Fund, vowing to push through reforms and address corruption.
In a speech, he said the IMF's Extended Fund Facility will "restore Sri Lanka's international recognition, ensure the country is not bankrupt and help banks regain international recognition," according to a readout from his media office. "This will create opportunities for low-interest credit, restore foreign investors' confidence and lay the foundation for a strong new economy."
