Crisis-hit Sri Lanka has entered right into a preliminary settlement with the International Monetary Fund (IMF) for a mortgage of about $2.9 billion, the worldwide lender stated in a press release on Thursday.
The debt-ridden nation is searching for as much as $3 billion from the IMF to keep away from its worst financial disaster since independence from Britain in 1948.
Sri Lankans have confronted extreme shortages of gasoline and different primary items for months, driving it into political turmoil and inflation, which is now rising practically 65% ​​year-on-year.
With inputs from TheIndianEXPRESS
