Sri Lanka secures long-awaited US$2.9 billion IMF bailout after China-backed debt-restructuring plan | South China Morning Post

Sri Lanka secured a US$2.9 billion bailout from the International Monetary Fund on March 20, 2023, a crucial step for the bankrupt nation to stabilise its economy and begin restructuring its debt. Sri Lanka had been grappling with its worst economic crisis since 1948, and defaulted on its overseas debt for the first…

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