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Sri Lanka, IMF Reach Deal on $2.9 Billion Rescue Package

Sri Lanka reached a preliminary settlement for a monetary rescue package deal of about $2.9 billion with the International Monetary Fund, a milestone because it plots a path out of its worst economic crisis in decades.

The mortgage, which might be disbursed over 4 years, is contingent on Sri Lankan authorities following by with measures geared toward placing the nation on a more sustainable financial footing and on the nation’s collectors giving assurances that they may cooperate on debt restructuring.

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