Sri Lanka ready for 'normal transactions' says president after IMF bailout

22 March 2023
Sri Lanka ready for 'normal transactions' says president after IMF bailout

Sri Lankan President Ranil Wickremesinghe issues a video statement following the International Monetary Fund's approval of a $2.9 billion bailout for the country, raising hopes of easing the island nation's dire economic crisis. Wickremesinghe said the IMF deal shows the country now has the ability to begin normal transactions. The announcement clears the way for the release of funds and kicks off a four-year programme designed to shore up the Sri Lankan economy.