China agrees to restructure loans to bankrupt Sri Lanka, clearing the final obstacle to a long-awaited IMF bailout of $2.9 billion
Sri Lanka entered into the rescue package agreement with the IMF in September, but its release was held up pending"financial assurances" from creditors.
"We have done our part, I hope the IMF will do theirs," he said in a special address to lawmakers, emphasising that with support from China, all funding requirements had been met. The crisis culminated last July when tens of thousands of protesters stormed then-president Gotabaya Rajapaksa's official residence, forcing him to flee abroad and resign.
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