IMF Resumes $2.9 Loan Billion Bailout For Sri Lanka
NDTV
Sri Lanka had expected the progress review to be completed by September, but it was held up pending financial assurances from China, which holds 52 percent of the island's bilateral debt.
The International Monetary Fund revived its $2.9 billion bailout for Sri Lanka on Tuesday after the South Asian nation clinched a debt restructuring deal with China, its biggest official lender.
The IMF said its board had completed the first review of Sri Lanka's rescue package known as the Extended Fund facility (EFF) and released the second tranche of $337 million to support economic policies and reforms.
Sri Lanka had expected the progress review to be completed by September, but it was held up pending financial assurances from China, which holds 52 percent of the island's bilateral debt.
