Image source, Getty Images By Archana Shukla & Annabelle Liang in Colombo and Singapore Sri Lanka hasactually protected a $2.9bn (£2.3bn) bailout from the International Monetary Fund (IMF) as it dealswith its worst financial crisis consideringthat self-reliance. The offer hasactually been almost a year in the making and a lifeline for the nation that has billions of dollars in loans. Foreign minister Ali Sabry informed the BBC the federalgovernment will raise funds by restructuring state-owned business and privatising the nationwide airlinecompany. However, experts cautioned Sri Lanka still dealswith a difficult roadway ahead. The nation’s economy hasactually been struck difficult by the pandemic, increasing energy costs, populist tax cuts and inflation of more than 50%. A lack of medications, fuel and other fundamentals likewise assisted to push the expense of living to record highs, triggering acrossthecountry demonstrations which toppled the judgment federalgovernment in2022 Image source, Reuters Image caption, Queues for fuel snaked along Colombo’s streets at the peak of the fuel scarcity last July As a outcome the nation defaulted on its financialobligations with interna
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