IMF says Sri Lanka must reform central bank law for $2.9bn bailout

Sri Lanka Central Bank HQ building

The International Monetary Fund reached a staff-level agreement with Sri Lanka’s government over a $2.9 billion bailout package, it announced today (September 1).

The IMF said its aid was dependent on the government passing a range of economic reforms, including greatly increasing the central bank’s autonomy. Its executive board must decide on whether it will agree to the deal.

The package would provide Sri Lanka with 2.2 billion in special drawing rights ($2.9 billion) over four years under

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