The International Monetary Fund (IMF) approved the third review of Sri Lanka's $2.9 billion bailout on Saturday but warned that the South Asian economy remains vulnerable. In a statement, the global lender said it would release about $333 million,

IMF staff and the Sri Lankan authorities have reached staff-level agreement on economic policies to conclude the third review of Sri Lanka’s economic reform program supported by the IMF’s Extended Fun

Sri Lanka’s new National People’s Power government on Saturday got the International Monetary Fund approval for a staff-level agreement to secure the fourth tranche of the nearly $3 billion bailout package.

Sri Lanka expects the IMF to announce a staff level agreement on its third review of the country's bailout programme on Friday, President Anura Kumara Dissanayake told the first sitting of the new parliament.

Sri Lanka's new leader on Thursday backed a controversial IMF bailout, marking a U-turn from his election pledge to renegotiate the deal secured by his predecessor.

The International Monetary Fund has approved the third review of Sri Lanka's $2.9 billion bailout, providing an additional $333 million in funding. Despite signs of economic recovery, the IMF warns that the country's economy remains vulnerable.

The International Monetary Fund (IMF) approved the third review of Sri Lanka's $2.9 billion bailout on Saturday but warned that the South Asian economy remains vulnerable.