Sri Lanka will get the first $330m tranche of an International Monetary Fund (IMF) bailout package in the next two days, says the global lender, putting the onus on the cash-strapped country to rein in its debt to sustainable levels.
Economic mismanagement, coupled with the effects of the COVID-19 pandemic, left Sri Lanka severely short of dollars for essential imports at the beginning of last year, tipping the island nation into its worst financial crisis in seven decades.
