Sri Lanka's $12.5 billion bondholder debt rework has received support from bilateral creditors and the International Monetary Fund, the finance ministry said on Friday, a huge boost to the island nation's fragile economy.

Sri Lanka’s new president stuck to his campaign promises of reducing taxes and providing other relief to citizens in his first meeting with officials from International Monetary Fund since taking office.

Sri Lanka's painful austerity measures were "bearing fruit" and must be sustained, the International Monetary Fund said Friday as the country's new president sought changes to its $2.9 billion bailout.

International Monetary Fund staff and officials in Ghana have reached an agreement on their third review of the West African country's $3 billion IMF loan programme, the fund said on Friday. The West African gold and cocoa producer is nearing completion of a debt-restructuring process under the G20's Common Framework initiative,

Ghana is close to receiving another $360 million disbursement from the International Monetary Fund as it reached a staff-level agreement with the Washington-based lender on the third review of an extended credit facility program.

The International Monetary Fund (IMF) and Ghana have reached a staff-level agreement on the third review of Ghana’s US$ 3 billion extended credit facility.