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IMF approves $695 million program funding for Sri Lanka

The International ​Monetary Fund said on Wednesday that it approved ‌about $695 million in funding to Sri Lanka under a $2.9 billion program. The funds will increase Sri Lanka's foreign currency reserves, ​which dipped 3.8% to $6.7 billion at the ​end of April from the prior month as ⁠the island nation grapples with soaring energy prices ​as a result of the U.S.- Israel war ​on Iran. [....]