The International Monetary Fund (IMF) approved the third review of Sri Lanka's $2.9 billion bailout on Saturday but warned that the South Asian economy remains vulnerable. In a statement, the global lender said it would release about $333 million,

Sri Lanka’s new National People’s Power government on Saturday got the International Monetary Fund approval for a staff-level agreement to secure the fourth tranche of the nearly $3 billion bailout package.

Sri Lanka's new leader on Thursday backed a controversial IMF bailout, marking a U-turn from his election pledge to renegotiate the deal secured by his predecessor.

Sri Lanka expects the IMF to announce a staff level agreement on its third review of the country's bailout programme on Friday, President Anura Kumara Dissanayake told the first sitting of the new parliament.