The IMF said Sri Lanka had agreed to increase revenue, remove subsidies, ensure a flexible exchange rate and rebuild its foreign reserves, which had hit rock bottom
A sign reading 'No Petrol' is seen at a closed Ceylon Petroleum Corporation fuel station in Colombo August 26, 2022. The International Monetary Fund said Thursday it had reached a staff-level agreement to support bankrupt Sri Lanka with a $2.9 billion bailout spread over four years. ​Image: Ishara S. Kodikara / AFP