Sri Lanka receives first tranche of bailout from International Monetary Fund.
Sri Lankan President Ranil Wickremesinghe has told the Parliament that Sri Lanka has received the first installment of bailout from the International Monetary Fund, which will set the stage for better financial discipline for Sri Lanka.
The $330 million tranche is part of an almost $3 billion bailout package approved by the IMF.
Sri Lanka is also expected to receive an additional $3.75 billion in assistance from the World Bank, Asian Development Bank and other lenders following the IMF bailout.
Sri Lanka is ready to engage in restructuring talks with bilateral and private lenders to restore debt sustainability, the Sri Lankan finance minister has said in an interview.