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Reuters
Reuters
Business
By Uditha Jayasinghe

Wickremesinghe delivers IMF deal for Sri Lanka despite public mistrust

FILE PHOTO: Sri Lanka's President Ranil Wickremesinghe looks on during an interview with Reuters at the Presidential Secretariat in Colombo, Sri Lanka August 18, 2022. REUTERS/ Dinuka Liyanawatte/File Photo

When Ranil Wickremesinghe took over as Sri Lanka's president in July after a popular uprising ousted his predecessor, the South Asian island nation was engulfed in its worst economic meltdown in 75 years.

Since then, Wickremesinghe has managed to a keep a lid on mass protests, improve supplies of essentials and on Monday, secured a nearly $3 billion bailout from the International Monetary Fund (IMF) that opens the door to restructuring about $58 billion of debt and receive funding from other lenders.

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