The deal, subject to approval by the IMF board in July, comes after an eight-month delay and offers some respite to Pakistan, which is battling an acute balance of payments crisis and falling foreign exchange reserves, , pakistan, international monetary fund, bailout package
let s start with sri lanka, where the governement has announced a surprise five day bank holiday starting from today. the government hopes the move will give it some breathing room to restructure its repayments. sri lanka s domestic debt currently stands atjust over $40 billion that s debt owed to lenders in sri lanka only. the country has receieved international support recently. the world bank has just granted it $700 million, following a $3 billion bailout package from the international monetary fund in march. 0ur south asia editor, anbarasan ethirajan, joins us now. just explain the significance of this five day holiday. we said it buys them some breathing room, but why is that necessary? it is a very key moment for sri lanka, as it attempts to encourage
for more stories from across the uk, head to the bbc news website. you are live with bbc news. time now for a look at the latest business news and ben thompson is here for us. thank you. hello and let s start in sri lanka, where they have announced a five day ban, j to give them time to restructure their repayments will stop the domestic debt stands at $a0 billion, which is owed to lenders in shri intent won. the world bank just granted it $700 million, following a three billion dollar bailout package from the international monetary fund back in march. our correspondence had an explosion for why this is crucial. it is a key moment for sri lanka as