Sri Lanka Fails To Reach Agreement To Get Next IMF Bailout Tranche

An IMF delegation wrapped up their two-week mission to Sri Lanka without an announcement on releasing the second tranche of $330 million.

Bankrupt Sri Lanka's economic recovery was "not yet assured", the International Monetary Fund warned Wednesday, after the first review of its $2.9 billion bailout aimed at restoring the island's finances.

The Washington-based lender of last resort said Sri Lanka had been unable to meet its revenue targets and ensure growth although it had tamed runaway inflation.

"Despite early signs of stabilisation, full economic recovery is not yet assured," the IMF said.