Sri Lanka receives first tranche of IMF bailout

COLOMBO, March 22 (Reuters) - Sri Lanka has received the first tranche of an IMF bailout programme, President Ranil Wickremesinghe told parliament on Wednesday.

The crisis-ridden island nation was scheduled to receive a $330 million tranche, the first part of a nearly $3 billion bailout approved by the International Monetary Fund on Monday.

"This sets the stage for Sri Lanka to have better fiscal discipline and improved governance," Wickremesinghe said.

The IMF bailout is expected to catalyse additional support to the tune of $3.75 billion from the likes of the World Bank, the Asian Development Bank and other lenders. It clears the way for Sri Lanka to rework a substan...
[Short citation of 8% of the original article]