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IMF to launch new form of aid — with no money

WASHINGTON: The International Monetary Fund announced on Wednesday it will launch a new tool to support governments in financial trouble -- but one that involves no money -- formalizing a step it took last week for Greece. Instead of…

Sri Lanka says it secures $1.34 bn World Bank loan

COLOMBO: Sri Lanka has secured $1.34 billion in loans from the World Bank to boost the cash-strapped island's economy over the next three years, the finance ministry said Saturday. The loans would be at concessionary rates and repayments…