IMF releases $250m of Sri Lanka loan

The International Monetary Fund announced the release of the latest instalment of Sri Lanka's $1.5 billion bailout on Saturday, but warned that restructuring the loss-making national airline was essential to sustain economic recovery.

The IMF welcomed the island nation's increase in fuel prices last month -- a precondition for it to receive $252 million of the three-year loan approved in June 2016.