The deal has been in place for a year and is a lifeline for the country that has billions of dollars in loans.
For the first time in history, the country defaulted on its debts with international lenders in May.
We have lived beyond our means. In an interview before funding was announced, Sabry said that these hard measures, which may be very unpopular, need to be taken.
Most people, other than politically motivated unions, have understood that. "I know they are not happy, but they also understand that we have no choice," said Sabry.
The big tax cuts that the government of Sri Lanka introduced in 2019 have resulted in a loss of more than 1.4 billion bn. 1.14 billion a year.
The IMF said that Sri Lanka had secured financial assurances from all its major creditors, including China and India, which paved the way for the bailout.
We have the will to pay, but we don't have the capacity to pay. He said that we're trying to get that capacity back.
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