Colombo, March 19 (SocialNews.XYZ) Sri Lankan central bank governor Nandalal Weerasinghe told media on Sunday that the country's "dollar crisis" is over, as the IMF is set to approve a $2.9 billion bailout package for the country on Monday.
He said Sri Lanka will hence have adequate foreign reserves for imports for essential sectors, adding that the IMF package will boost investor sentiment and enhance the country's access to more foreign funds and investments, Xinhua news agency reported.
The IMF package will include budgetary support to Sri Lanka's government, which is a new element in IMF lending, he added.
Sri Lanka started the related negotiations with the international lender in 2022 after the South Asian country was hit by a severe economic crisis.
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at email@example.com