How Sri Lanka's new president plans to lift the country's poor out of poverty

Days after securing a stunning election victory, Sri Lanka’s new president is reviewing the terms of his country’s agreement with the International Monetary Fund.

Sri Lanka currently owes $55 billion in external debt to private investment firms, the World Bank and Asian Development Bank, and bilateral partners China and India.

In 2023, the country received a $2.9 billion bailout from the IMF and, in exchange, agreed to set targets to start paying back its debts.

But that has meant tough austerity measures, and President Anura Kumara Dissanayake is promising to ease financial pressure on the country’s poorest.

SBS News Asia Correspondent Aaron Fernandes filed this report from Colombo.

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