IMF to provide 2.9 billion dollars if Sri Lanka meets conditions

Al Jazeera English published this video item, entitled “IMF to provide 2.9 billion dollars if Sri Lanka meets conditions” – below is their description.

The International Monetary Fund has reached an agreement with Sri Lanka to provide approximately $2.9bn in emergency financing, as the country faces its worst economic crisis since independence.

The crisis led to months of protests that forced former Prime Minster Mahinda Rajapaksa to resign and his brother President Gotabaya to flee the country.

The deal will only go through if Sri Lanka meets a number of conditions, including increased taxes, an end to subsidised electricity and efforts to stamp out corruption.

Al Jazeera’s Minelle Fernandez reports from Colombo, Sri Lanka.

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About This Source - Al Jazeera English

The video item below is a piece of English language content from Al Jazeera. Al Jazeera is a Qatari state-funded broadcaster based in Doha, Qatar, owned by the Al Jazeera Media Network.

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Minelle Fernandez is the Sri Lanka correspondent for Al Jazeera News, operating from Columbo.

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Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka is an island country in South Asia, located in the Indian Ocean southwest of the Bay of Bengal and southeast of the Arabian Sea. Sri Lanka has been called “the pearl of the Indian ocean” because of its shape and location.

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