IMF approves $3bn bailout for Sri Lanka

Program expected to improve country's standing in international capital markets

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Sri Lankan President Ranil Wickremesinghe's office said the decision will enable the country to access up to $7 billion in funding overall. © Reuters

(Reuters) -- The International Monetary Fund on Monday said its executive board approved a nearly $3 billion bailout for Sri Lanka, and the country's presidency said the program will enable it to access up to $7 billion in overall funding.

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