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.

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,

The International Monetary Fund (IMF) has given the green light for the third review of Sri Lanka's $2.9 billion bailout. Although some ..|News Track

In a statement, the global lender said it would release about $333 million, bringing total funding to around $1.3 billion, to the crisis-hit nation. It said signs of an economic recovery were emerging.

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.