The International Monetary Fund said it had “fruitful technical discussions” with Sri Lanka on its request for a loan programme, as the island nation grapples with a severe economic crisis that has sparked protests across the country.
IMF staff and the Sri Lankan delegation, which met from April 18 to April 22, discussed policy actions to address the country's economic challenges, the Washington-based lender said in a statement.
The talks covered “the need for implementing a credible and coherent strategy to restore macroeconomic stability, and the importance of stronger social safety nets to mitigate the adverse impact of the current economic crisis on the poor and vulnerable”, Masahiro Nozaki, mission chief for Sri Lanka, said.
Sri Lanka's finance minister Ali Sabry was in Washington last week talking to the IMF and other lenders about financial assistance. The country is struggling with ballooning liabilities and soaring inflation amid its worst economic crisis in decades.
The debt-laden country is facing shortages of essential goods and hours-long power cuts, triggered by its difficulty in paying for imported fuel and other commodities following a collapse in its foreign exchange reserves.
Sri Lanka needs between $3 billion and $4bn this year to pull itself out of the economic turmoil, and has approached the IMF, the World Bank, India and others for funds.
“The IMF team welcomed the Sri Lankan authorities’ plan to engage in a collaborative dialogue with their creditors,” Mr Nozaki said, after Sri Lanka took steps to explore a restructuring of about $12bn in sovereign bonds.
“Going forward, the IMF team will support Sri Lanka’s efforts to overcome the current economic crisis by working closely with the authorities on their economic programme, and by engaging with all other stakeholders in support of a timely resolution of the crisis,” he said.
IMF projections show the country is expected to grow 2.6 per cent this year, down from 3.6 per cent in 2021.
The fund will consider providing quick financial assistance to debt-burdened Sri Lanka following representations by India, Mr Sabry said last week.
The government hopes that an IMF-backed programme will help top up its reserves and attract bridge financing to pay for essential imports of fuel, food and medicines.
Three ways to limit your social media use
Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.
1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.
2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information.
3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.
EPL's youngest
- Ethan Nwaneri (Arsenal)
15 years, 181 days old
- Max Dowman (Arsenal)
15 years, 235 days old
- Jeremy Monga (Leicester)
15 years, 271 days old
- Harvey Elliott (Fulham)
16 years, 30 days old
- Matthew Briggs (Fulham)
16 years, 68 days old
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A cryptocurrency primer for beginners
Cryptocurrency Investing for Dummies – by Kiana Danial
There are several primers for investing in cryptocurrencies available online, including e-books written by people whose credentials fall apart on the second page of your preferred search engine.
Ms Danial is a finance coach and former currency analyst who writes for Nasdaq. Her broad-strokes primer (2019) breaks down investing in cryptocurrency into baby steps, while explaining the terms and technologies involved.
Although cryptocurrencies are a fast evolving world, this book offers a good insight into the game as well as providing some basic tips, strategies and warning signs.
Begin your cryptocurrency journey here.
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Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
MATCH INFO
Manchester United 1 (Rashford 36')
Liverpool 1 (Lallana 84')
Man of the match: Marcus Rashford (Manchester United)
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UAE currency: the story behind the money in your pockets
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