India, US, Japan secure USD 2.286 bn IMF bailout for Sri Lanka

After a protracted battle by India, the United States and Japan to get China to agree to restructure its massive loan of USD 7bn to Sri Lanka, the International Monetary Fund (IMF) approved the USD 2.286 billion (about USD 3bn) bailout for Sri Lanka on March 20. The Sri Lankan government under President Ranil Wickremesinghe endorsed on Saturday that Sri Lanka is no longer deemed bankrupt by the world, Trueceylon reported.

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