News Snapshot:
Six months after Sri Lanka qualified for an International Monetary Fund (IMF) Extended Fund Facility of $2.9 billion to tide over the worst economic crisis in its history, the IMF Board finally signed off on the arrangement after receiving requisite financial assurances to restore debt sustainability from the country’s biggest bilateral donors — China, India and Japan. President Ranil Wickremesinghe tweeted his thanks to the IMF. “In the 75 years of Sri Lanka’s independence, there has never been a more critical period for our economic future. IMF Executive Board approved our programme, enabling Sri Lanka to access up to $7b...
