COLOMBO :Sri Lanka is completing the pre-requisites to unlock a $2.9 billion bailout from the International Monetary Fund and expects rapid approval from the global lender, President Ranil Wickremesinghe said on Saturday.
Sri Lanka, caught in the worst financial crisis since independence from Britain in 1948 triggered by a severe shortage of dollars, has seen steep inflation, a currency plunge and its economy slide into recession. Wickremesinghe, who took over after his predecessor fled the country and resigned last year after thousands of protesters occupied his office and residence, has pledged to put the economy back on track but warned it will be an uphill task.
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