Sri Lanka hopes to reach initial agreement with IMF for help

By BHARATHA MALLAWARACHI
Associated Press

COLOMBO, Sri Lanka (AP) — Sri Lanka’s central bank chief hopes the government can reach a preliminary agreement that could lead to a bailout package with the International Monetary Fund when its officials visit later this month. Sri Lanka’s economic crisis set off huge protests that led to the ouster of President Gotabaya Rajapaksa last month. The government has said the crisis has made the negotiations with the IMF difficult. The banking official said he hoped IMF officials and Sri Lanka’s government could “finalize and reach a staff-level agreement” on the policy package during their meetings. Separately Thursday, police fired tear gas and used water canons to disperse students marching to demand the nation’s new president resign. Some were arrested.