Fitch says Sri Lanka likely to secure funding support from IMF

Ratings agency Fitch on Friday said Sri Lanka was likely to secure financing support from the International Monetary Fund (IMF) after the lender’s executive board set a date of March 20 to consider approval of a long-awaited $2.9 billion bailout.

“We view the announcement of a date for the Executive Board review as an indication that the IMF regards the financing assurances it has received from key official creditors as sufficiently credible to move forward,” the agency said.