Sri Lanka says IMF bailout talks near end after declaring state of emergency | CBC News

Sri Lanka's acting president Ranil Wickremesinghe said on Monday that the country had almost concluded negotiations with the International Monetary Fund on a bailout package, a day after he declared a state of emergency in the island nation.

Late on Sunday, Wickremesinghe, who was sworn in on July 15 as acting president, declared a fresh state of emergency, the specific legal provisions of which are yet to be announced by the government.

Previous emergency regulations have been used to deploy the military to arrest and detain people, search private property and dampen public protests. Colombo, the country's commercial capital, remained calm on Monday morning, with traffic and pedestrians out on the streets. Parliament accepted Rajapaksa's resignation on Friday, and convened a day later to begin the process of electing a new president, with the vote set for Wednesday.

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