Sri Lanka's economic recovery improving

By Associated Press

Jun 03, 2023 12:08 am

COLOMBO: Debt-stricken Sri Lanka, which declared bankruptcy last year, is showing signs of economic improvement but its recovery still faces challenges, the International Monetary Fund (IMF) said on Friday.

The Indian Ocean island nation declared bankruptcy in April 2022 and said it was suspending repayment of its foreign debt. It reached an agreement with the IMF in March on a nearly $3-billion bailout program over four years.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

China's Nov indus-trial profits down by 7.3%

HK home prices edge up 0.07% in No-vember

US shoppers boost holiday spending 3.8%

Inflation in Japan's capital accelerates

New US unemployment benefit claims tumble

Oil prices edge higher in thin holiday trading

Japan's budget to hit record $735 billion