COLOMBO: The International Monetary Fund said Monday it had reached a preliminary agreement with Sri Lanka that will allow it to access about US$345 million from its US$2.9 billion bailout programme.
The Washington-based lender also warned that higher energy prices, the El Nino climate phenomenon and the Middle East conflict could threaten its economic recovery.
The agreement marks the latest milestone in Sri Lanka's recovery from its worst economic crisis, which culminated in a sovereign default on US$46 billion of external debt in 2022.
