IMF grants Sri Lanka $3 billion bailout to boost economy.

The International Monetary Fund has approved a $3 billion loan to Sri Lanka to help the country through its financial crisis. The loan is subject to conditions, including tightening finances and renegotiating debt repayment terms. The Sri Lankan economy remains in a precarious state, with inflation running at 50.6% last month. The government has been pushed to change policies in pursuit of financial stability, including broadening the tax base and reducing subsidies on imported goods. The loan is hoped to mark the beginning of the country's recovery.