Sri Lanka president, presenting first budget, says IMF talks making progress

"We hope to start talks with creditors," Wickremesinghe, who also serves as finance minister, told parliament as he presented his first budget since taking over as leader. Officials hope the interim budget for the rest of the year will be followed by a staff-level agreement on extending much-needed IMF help for Sri Lanka to tackle its worst economic turmoil since independence from Britain in 1948.

Sri Lankan President Ranil Wickremesinghe on Tuesday said that talks with the International Monetary Fund (IMF) on a bailout package for the crisis-hit country had reached a "successful level". "We hope to start talks with creditors," Wickremesinghe, who also serves as finance minister, told parliament as he presented his first budget since taking over as leader.

Officials hope the interim budget for the rest of the year will be followed by a staff-level agreement on extending much-needed IMF help for Sri Lanka to tackle its worst economic turmoil since independence from Britain in 1948.