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India Facilitates IMF Bailout for Crisis Stricken Sri Lanka

New Delhi – Sri Lanka has moved closer to securing a crucial $2.9 billion loan from the International Monetary Fund after India extended financing assurances that Colombo needs from its major foreign creditors to get the bailout package.

The IMF loan is critical for the tiny island country to begin a slow recovery process from its worst economic crisis in decades.

Indian External Affairs Minister Subrahmany