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IMF set to provide $2.9 billion to help crisis-hit Sri Lanka

A woman bargains as she buys vegetables at a market place in Colombo, Sri Lanka, Friday, June 10, 2022. [AP Photo]

The International Monetary Fund will provide Sri Lanka $2.9 billion over four years to help salvage the country from its worst economic crisis under a preliminary agreement the agency announced Thursday.

The arrangement will work to restore financial and macroeconomic stability and debt sustainability as well as unlock the country's growth potential, the IMF team visiting Sri Lanka said in a statement.

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