Just Earth News | @justearthnews | 19 Mar 2023, 08:16 am Print
Image: Unsplash/ Mariana Proença
Colombo: Sri Lankan central bank governor Nandalal Weerasinghe told media on Sunday that the country's "dollar crisis" is over, as the International Monetary Fund (IMF) is set to approve a 2.9 billion U.S. dollar bailout package for the country on Monday.
He said Sri Lanka will hence have adequate foreign reserves for imports for essential sectors, adding that the IMF package will boost investor sentiment and enhance the country's access to more foreign funds and investments.
The IMF package will include budgetary support to Sri Lanka's government, which is a new element in IMF lending, he said.
Sri Lanka started related negotiations with the international lender in 2022 after the South Asian country was hit by a severe economic crisis.
(With UNI inputs)
- US: Baltimore school student handcuffed, searched after AI system mistakenly identifies bag of chips for gun
- UK: Indian-origin woman raped in West Midlands in 'racially aggravated attack', police release CCTV image of suspect
- Over 77,000 traffic accidents recorded on Balochistan highway in past five years: Reports
- Three killed in Russian drone strikes on Ukraine's Kyiv
- Louvre jewel heist: 2 arrested week after $102 million jewel theft while fleeing France

