Analysts said that the $2.69 billion, includes a 1.4 billion US dollar currency swap from China with conditions attached to its usage
The IMF bailout, the 17th in Sri Lanka’s history, was approved following prolonged discussions held up over Colombo's unsustainable debt
This is the time for India to reach out to Sri Lanka and prove that it is capable of extending a helping hand to neighbours in times of crisis.
Wickremesinghe also granted presidential pardons to 988 inmates serving time for minor offences in the island’s jails on the occasion, the NewsFirst news portal reported on Friday
The economy is facing significant challenges stemming from pre-existing vulnerabilities and policy missteps in the lead-up to the crisis, further aggravated by a series of external shocks
Sri Lanka has introduced painful economic measures such as tax hikes and utility rate hikes to unlock the programme. Trade unions and opposition groups have organised protests against such actions