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Business Matters: Sri Lanka secures a $2.9bn bailout by the IMF

21/03/2023 GMT

Sri Lanka secures a $2.9bn bailout by the IMF

BBC World Service - Business Matters, Sri Lanka secures a $2.9bn bailout by the IMF

The International Monetary Fund have agreed on a $2.9bn bailout for Sri Lanka

Sri Lanka has secured a $2.9bn bailout from the International Monetary Fund as it faces its worst economic and social crisis since independence.

The IMF have agreed on a $2.9bn bailout for Sri Lanka to help the country restructure its debts. This comes as it faces its worst economic crisis since independence.

China's leader Xi Jinping showed the importance of close relations between Russia and China at a dinner hosted by Vladimir Putin on Monday. This comes days after an international court called for the Russian president's arrest for war crimes in Ukraine.

The failure of financial institutions is a serious problem with human costs, but to some people it is also something to remember. There is a market in financial souvenirs and memorabilia and that has happened with Credit Suisse. Madison Darbyshire is a US investments reporter for the Financial Times in New York and has been writing about this phenomenon.

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Sri Lanka secures a $2.9bn bailout by the IMF

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