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Sri Lanka Economy

IMF Approves Third Review Of Sri Lanka’s $2.9bn Bailout As Economy Shows Recovery

23 Nov 2024

International Monetary Fund (IMF) has approved the third review of Sri Lanka’s $2.9 billion bailout on Saturday, acknowledging signs of economic recovery but warning that the country’s economy remains vulnerable. In a statement, the global lender confirmed it would release an additional $333 million, bringing the total funding to approximately...

Sri Lanka Records First Deflation In 29 Years As Economy Stabilizes

01 Oct 2024

Sri Lanka's economy saw consumer prices fall for the first time in nearly three decades, with official data showing a deflation rate of 0.5% in September. The Department of Census and Statistics reported price drops across both food and non-food sectors, contributing to the decline, compared to a 0.5% inflation...