The unbiased perspective

  On Monday, Sri Lankan President Ranil Wickremesinghe's office said that the executive board of the International monetary fund has approved a $2.9 billion bailout which will give access to $7 billion funding as Sri Lanka recovers from its worst economic crisis in its  received assurances to restore debt sustainability from the Country's biggest bilateral donors which are China, India and Japan. Sri Lanka will get the first $330 million tranche in the next two days. As last year Economic mismanagement coupled with the impact of the Covid-19 pandemic left Sri Lanka severely short of dollars for essential imports at the beginning of last year. while this package is hardly sufficient to tide over Sri Lanka's crisis , it will help the  country restore its credibility with international private creditors. On Wednesday Wickremesinghe said that "This sets the stage for Sri Lanka to have better fiscal discipline and improved  government This $3 billion is expected to catal...