IMF agrees to provide crisis-hit Sri Lanka $2.9 billion

The International Monetary Fund says it has agreed to give $2.9 billion worth over four years to help emergency-hit Sri Lanka

An IMF group visiting Sri Lanka said in an explanation that the primer understanding is dependent upon endorsement from the organization's administration and leader board

Sri Lanka is confronting its most exceedingly terrible financial emergency in late memory with intense deficiencies of basics like fuel, medications, and food on account of serious unfamiliar money deficiencies.

The IMF said Sri Lanka's economy is supposed to shrink by 8.7% and expansion has surpassed 60%.

"Against this setting, the specialists' program, upheld by the Fund, would mean to balance out the economy, safeguard the jobs of the Sri Lankan individuals

set up the ground for financial recuperation and advancing supportable and comprehensive development," it said.