{"id":10370,"date":"2022-09-01T15:01:01","date_gmt":"2022-09-01T15:01:01","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=10370"},"modified":"2022-09-01T15:01:01","modified_gmt":"2022-09-01T15:01:01","slug":"imf-finally-agrees-to-release-2-9-billion-for-bankrupt-sri-lanka","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/imf-finally-agrees-to-release-2-9-billion-for-bankrupt-sri-lanka\/","title":{"rendered":"IMF finally agrees to release $2.9 Billion for Bankrupt Sri Lanka"},"content":{"rendered":"<p>IMF finally agrees to release $2.9 Billion for Bankrupt Sri Lanka. Bankrupt Sri Lanka will receive a conditional $2.9 billion bailout, the <a href=\"https:\/\/www.imf.org\/en\/Home\">International Monetary Fund<\/a> said Thursday, following a bruising economic crisis that saw the island nation\u2019s president chased from the country.<\/p>\n<p>Months of acute food, fuel and medicine shortages, extended blackouts and runaway inflation have plagued the country after it ran out of dollars to finance even the most essential imports.<\/p>\n<p><em><strong>Read more:\u00a0<a href=\"https:\/\/dailyausaf.com\/en\/pakistan\/imf-board-approves-1-1-bln-tranche-for-pakistan.html\">IMF board approves $1.1 bln tranche for Pakistan<\/a><\/strong><\/em><\/p>\n<p>The country has defaulted on its $51 billion foreign debt and incensed protesters stormed the home of then-president Gotabaya Rajapaksa in July, with the leader subsequently fleeing the island and issuing his resignation from Singapore.<\/p>\n<p>\u201cSri Lanka has been facing an acute crisis\u2026 disproportionately borne by the poor and vulnerable,\u201d the IMF said in a statement after nine days of talks in the capital Colombo.<\/p>\n<p>The IMF board will need to ratify Thursday\u2019s staff agreement, which is conditional on the government striking a deal with creditors to restructure its borrowings.<\/p>\n<p>Sri Lanka\u2019s economy is expected to shrink by 8.7% in 2022 with inflation rising above 60%, the IMF said, adding that the impact is greatest on the poor and vulnerable.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IMF finally agrees to release $2.9 Billion for Bankrupt Sri Lanka. Bankrupt Sri Lanka will receive a conditional $2.9 billion bailout, the International Monetary Fund said Thursday, following a bruising economic crisis that saw the island nation\u2019s president chased from the country. Months of acute food, fuel and medicine shortages, extended blackouts and runaway inflation [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":10371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9,3],"tags":[4252,1247,160],"class_list":["post-10370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-latest-news","category-world","tag-colombo","tag-international-monetary-fund","tag-imf"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/10370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=10370"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/10370\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/10371"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=10370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=10370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=10370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}