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The Associated Press

IMF set to provide $2.9 billion to help crisis-hit Sri Lanka

Sri Lanka Ranil Wickremesinghe Gotabaya Rajapaksa International Monetary Fund Eranga Jayawardena World Bank
World Bank senior mission chief Peter Breuer, right, speaks with Masahiro Nozaki, mission chief for Sri Lanka, by his side during a media conference in Colombo, Sri Lanka, Thursday, Sept. 1, 2022. (Eranga Jayawardena/AP)

COLOMBO, Sri Lanka — The International Monetary Fund will provide Sri Lanka $2.9 billion over four years to help salvage the country from its worst economic crisis under a preliminary agreement the agency announced Thursday.

The arrangement will work to restore financial and macroeconomic stability and debt sustainability as well as unlock the country's growth potential, the IMF team visiting Sri Lanka said in a statement.

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