INSUBCONTINENT EXCLUSIVE:
The International Monetary Fund (IMF) has convened a special press briefing this morning (Dec.13) on the completion of the first review
to SDR 254 million (approximately USD 337 million).This brings the total IMF financial support disbursed thus far to SDR 508 million
program approval on March 20, 2023.Sri Lanka plunged into its worst financial crisis in seven decades last year after its foreign exchange
reserves dwindled to record lows
However, since locking down the IMF bailout, the island nation has managed to partly stabilise its economy, bring down runaway inflation and
financial stability, and enhance growth-oriented structural reforms.
