Sri Lanka to get first tranche of $2.9bn bailout in two days: IMF

Sri Lanka will receive an almost $3bn bailout from the International Monetary Fund over the next four years as part of efforts to rescue its battered economy.
President Ranil Wickremesinghe has said his country was no longer a bankrupt nation.

Al Jazeera's Minelle Fernandez reports from Colombo, Sri Lanka.


#SriLanka #SriLankaEconomicCrisis #IMF #SriLankaIMFBailout

[ronnelacido]

"IMF's programs are often designed to solve the symptoms of the problem. The problem is corruption and mismanagement". He's right. But the solution to the problem lies withbthe people of Sri Lanka. The IMF is not the one who elects the corrupt and thieving politicians of Sri Lanka. If Sri Lankans keep electing into office the same set of leaders, only the symptoms, not the problem will be solved.

[syedmaricar]

Sri Lanka will have to manage better . Nice place and people will improve in future for the best

[John-gvs]

Let’s hope the Sri Lankan politicians don’t give it all out on parties, luxury cars, and expensive hotel venues celebrating their own importance. But they will!

[jayechow]

More US debt trap. Countries in this region is performing worst than the africans. At the very least countries in Africa is rich with natural resources, but here the only good is they keep giving birth to more people. This region need better family planning than more loans. Gone are the days where high population numbers is the engine of growth because countries in the US and EU are moving away from free trade to protectionism.

[quintusfernando]

Rajapaksa, *Rajapaksa * Rajapaksa. **
Rogues have vanished ***

[kishwerchaudary]

THANK GOD, FINALLY OUR PEOPLE GOT SOME HELP.

[indeewarajayasinghe]

Every year we have seen More than $ 5 Bn of Current Account deficit and Fiscal deficit more than 90 % of GDP.
Removing the corruption will improve investor sentiment in the long runf hence more FDI 's would trickle in .
Yet in the current situation govt. focus should be on improving Export Revenues.
Yet when cheap coal power plants and other Thermal power plants in the pipeline are getting delayed due to various Enviornmental groups who are envisioning a hilarious strategy to fulfill the increasing energy needs through renewables which is 3-4 time costlier than current Thermal power plants, developing more industries to boost exports is a dream so distant.

[ansh_u_r]

Now Chinese again on the door with offer.

[scousebadger]

Interesting comments seems corruption is wide spread in Sri Lanka why isn’t India helping with money. India is loaded 3rd most billionaires in the world. Only the US and China have more. Let’s check back in a year see how they’ve spent it. Good luck and bless you all in these turbulent and troubling times.

[LightHaus]

Miss MANAGEMENT of $$$$ … poor people suffers.