Sri Lanka receives first tranche of bailout from International Monetary Fund

Ranil Wickramasinghe said that the tranche will pave the way for better financial discipline for Sri Lanka.

Sri Lanka receives first tranche of bailout from International Monetary Fund.

Sri Lankan President Ranil Wickremesinghe has told the Parliament that Sri Lanka has received the first tranche of bailout from the International Monetary Fund, which will set the stage for better financial discipline for Sri Lanka.

The $330 million installment is part of the nearly $3 billion bailout package approved by the IMF.

Sri Lanka is also expected to receive an additional $3.75 billion in aid from the World Bank, Asian Development Bank and other lenders from the IMF bailout.

The Sri Lankan Finance Minister has said in an interview that Sri Lanka is ready to engage in restructuring talks with bilateral and private lenders to restore debt sustainability.

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