The International Monetary Fund (IMF) approved the third review of Sri Lanka's $2.9 billion bailout on Saturday but warned that the South Asian economy remains vulnerable.

Anura Kumara Dissanayake, who heads the National People's Power (NPP), affirmed his administration's commitment to continue the IMF bailout programme initiated by the previous government.

The International Monetary Fund has approved the third review of Sri Lanka's $2.9 billion bailout, providing an additional $333 million in funding. Despite signs of economic recovery, the IMF warns that the country's economy remains vulnerable.

Sri Lanka expects the IMF to announce a staff level agreement on its third review of the country's bailout programme on Friday, President Anura Kumara Dissanayake told the first sitting of the new parliament.

Sri Lanka's new leader on Thursday backed a controversial IMF bailout, marking a U-turn from his election pledge to renegotiate the deal secured by his predecessor.

Sri Lanka’s new NPP Government on Saturday got the International Monetary Fund (IMF) approval for a staff-level agreement to secure the fourth tranche of the nearly USD 3 billion bailout facility.   “Once the review is approved by the IMF management and completed by the IMF executive board,

By Uditha JayasingheCOLOMBO (Reuters) -The International Monetary Fund (IMF) approved the third review of Sri Lanka's $2.9 billion bailout on Saturday but warned that the South Asian economy remains vulnerable.

The International Monetary Fund (IMF) approved the third review of Sri Lanka's $2.9 billion bailout, releasing another $333 million. While economic recovery signs surface, the nation must finalize debt restructuring to continue progress.